Coveware Security Incident

Ransomware Costs Double in Q4 as Ryuk, Sodinokibi Proliferate Covewares Q4 Ransomware Marketplace report aggregates anonymized ransomware data from cases handled and resolved by Covewares Incident Response Team, and other Incident Response firms that utilize the Coveware Incident Response Platform to manage their own cases. This report discusses data points like the average ransom amounts, data recovery rates, and ransomware attack vectors. Unlike surveys, which rely on sentiment, this report is created solely from a standardized set of data collected from every case. By aggregating and sharing this data we believe large and small enterprises can better protect themselves from the persistent and ever-evolving ransomware threat. Please dont hesitate to reach out to us with any questions or comments. Thank you for reading! How Much Does a Ransomware Attack Cost? The total cost of a ransomware attack is a function of the severity and duration of the attack. Financial costs include the the ransom payment if one is made, and the costs to remediation of a network and its hardware. Costs also include lost revenue and potential brand damage if business interruption is severe enough. In Q4, ransomware actors also began exfiltrating data from victims and threatening its release if the ransom was not paid. In addition to remediation and containment costs, this new complication brings forth the potential costs of 3rd party claims as a result of the data breach. What Is the Average Ransom Payment? In Q4 of 2019, the average ransom payment increased by 104% to $84,116, up from $41,198 in Q3 of 2019 . While the median ransomware payment in Q4 was $41,179, the doubling of the average reflects diversity of the threat actors that are actively attacking companies. Some variants such as Ryuk and Sodinokibi have moved into the large enterprise space and are focusing their attacks on large companies where they can attempt to extort the organization for a seven-figure payout. For...

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