![]() The first is all businesses are essentially tech, data, computer businesses. Joel: There’s a couple of factors that have come into play. Like, ransomware is just proliferating at such an insane rate.ĭas: Why are we hearing so much about ransomware right now? What’s led to its rise? It is literally the fastest growing area of cybersecurity. It isn’t sophisticated espionage led by a nation-state, this is very much about how do you, at scale, get enough victims and have enough of an infrastructure to successfully monetize the hacking that you’re doing. It is basically software that’s used to take your computers or your data hostage and hold them for ransom until you pay the hostage-taker money to release them. Joel: Ransomware is kind of the pinnacle of the crimeware/hacking-for-profit type activities that we see. In this explainer episode, Tom Hofmann, the SVP of Intelligence at Flashpoint Intel (which monitors ransomware criminal syndicates and assists organizations with prevention and response) and a16z security operating partner cover: how ransomware works, from the anatomy of a hack to how the groups operate the role of nation-states, insurers, and regulators and what to do if your stuff is taken hostage.įor more on cybersecurity, check out our coverage of organized cybercrime and hacks and our 16 step guide to protecting your data. In recent months, ransomware groups directly shut down Kia Motors North American IT systems indirectly may have contributed to the death of a patient due to hospital ransomware and allegedly stole sensitive files from a law firm whose clients include former President Trump. It has evolved from taking systems and servers hostage to stealing data, and it has proven capable of shutting down global organizations. ![]() ![]() In just the last couple years, ransomware has grown into a multibillion dollar industry.
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