An organization's most valuable asset today is its data, and we're generating a lot of it.
According to Cybersecurity Ventures’ 2020 Data Attack Surface Report, there will be 200 zettabytes of data stored in the cloud by 2025, representing an incredible 50% of the planet’s data by then. For context, a zettabyte is equal to 1021 bytes. If we write it down, it’s represented as follows:
But today, five billion people access and store data on their digital devices and in the cloud, and by 2029, this figure is expected to account for 90% of the world's population over the age of six.
Needless to say, the next global data explosion is just around the corner, and as expected, this data needs to be backed up and protected from loss and cyber threats.
Data growth increases alongside innovation and cybercrime
Cybercrime Magazine estimates that a ransomware attack will occur every 11 seconds in 2021. With this increasing prevalence, it is no surprise that IT specialists are familiar with ransomware attacks such as latvia whatsapp data CryptoLocker, Ryuk, and REvil. However, new attacks are making headlines every day.
Last month, a ransomware attack known as ThiefQuest targeting Macs made its first appearance. This ransomware not only encrypts files, but also possesses spyware capabilities, including the ability to exfiltrate files, search for passwords, and steal critical information such as passwords, credit card numbers, and other financial data as they are entered. Although the malware may appear to originate from downloading pirated software, it is very important to be vigilant and follow cybersecurity best practices to avoid becoming a victim of ThiefQuest.
Despite all efforts to prevent ransomware attacks, cybercriminals continue to find increasingly creative ways to target organizations. One example is the Texas Department of Transportation (TXDoT), which recently experienced an attack by a new form of ransomware known as “ Ransom X. ”
This human-operated ransomware destroys nearly 300 security processes, bypasses system folders, and encrypts the computer and other resources on the network. To encrypt files without the user noticing, the ransomware creates a custom file extension associated with the victim. In the case of TXDoT, the custom extension was “.txdot.”
There is hope
As data volumes increase exponentially, security teams are increasingly working to protect critical business data from cyberattacks. Innovation in the data protection space must keep pace with the evolution of ransomware.
What should an IT specialist or CISO do?
Discussions between Cybersecurity Ventures editors and Fortune 500 CISOs revealed the top five considerations that businesses large and small need to take into account. Find out more in the full 2020 Data Attack Surface Report sponsored by Arcserve.