Malwarebytes releases ThreatDown 2024 State of Ransomware report, noting increase in malicious activity in the US (63% increase) and the UK (67% increase)

The manufacturing sector has become a standard target, with attacks increasing 71% year-on-year.

SANTA CLARA, California., 20 August 2024 /PRNewswire/ — Malwarebytes, a global leader in real-time cyber protection, has released its ThreatDown 2024 State of Ransomware report. The comprehensive report reveals an alarming increase in ransomware attacks over the past year, as well as significant shifts in the tactics and strategies used by cybercriminals, underscoring the need for organizations to conduct 24/7 monitoring and investigation of suspicious behavior. As Malwarebytes' enterprise product portfolio, ThreatDown solutions are specifically designed to overcome threats while empowering IT through easy-to-use, effective technologies such as Endpoint Detection & Response (EDR) and Managed Detection & Response (MDR).

“Ransomware gangs have time and motivation on their side. They are constantly evolving to respond to the latest technologies that are hot on their heels,” said Marcin KleczynskiFounder and CEO of Malwarebytes. “We've seen this very clearly over the past year, as widespread adoption of technologies like EDR has helped identify attackers before they launch malware, causing ransomware gangs to act faster and put more effort into hiding. Organizations and MSPs need additional support and ongoing coverage to outmaneuver today's criminals.”

Key findings of the report:

• In the US, there was a dramatic increase in ransomware attacks of 63 percent, and in the UK the increase was even greater at 67 percent.
• The share of attacks carried out by gangs outside the top 15 increased from 25% to 31%, indicating that ransomware is becoming more accessible to a wider range of cybercriminals.
• The United States accounts for 48% of all ransomware attacks worldwide, but it is also responsible for 60% of global attacks on education and 71% of attacks on healthcare.
• The manufacturing sector saw a staggering 71% increase in ransomware attacks year-on-year, highlighting the need for robust cybersecurity measures in this rapidly digitizing industry.

The three most important ransomware trends

The report also includes insights from the ThreatDown MDR team on three key changes in the tactics and techniques of ransomware gangs:

1. Living Off the Land (LOTL) techniques: Ransomware gangs are increasingly relying on built-in system administration tools to carry out their attacks, making detection and prevention more difficult for teams without a dedicated Security Operations Center (SOC).
2. Nighttime attacks: Most ransomware attacks now occur between 1am and 5amaimed at organizations where the presence of IT staff is less likely.
3. Faster attack schedules: The entire ransomware attack chain, from initial access to data encryption, has shortened from weeks to a few hours, requiring rapid detection and response capabilities.

“The question I ask organizations is do they have someone prepared to stop an attack. 2 a.m. on a Sunday with your existing technology stack and human resources?” said Chris KisselResearch Vice President, Security & Trust, IDC. “You may have a tool to catch the alert on Monday morning, but by then it will be too late. Threat actors are quick to compromise networks, download data, and deploy ransomware. 24/7 coverage through a managed service is key to keeping your organization secure while leveraging the cost efficiencies of an outsourced team.”

Read the full ThreatDown 2024 State of Ransomware report: www.threatdown.com/dl-state-of-ransomware-2024Or learn more about ThreatDown Managed Detection & Response: www.threatdown.com/products/managed-detection-and-response.

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About Malwarebytes

Malwarebytes is a global leader in cybersecurity, providing award-winning endpoint protection, data protection and threat prevention solutions worldwide. Backed by decades of experience as a last resort for finding and eradicating the latest malware, Malwarebytes is now used by millions of individuals and organizations to stop threats at every stage of the attack lifecycle, secure digital identities and protect data and privacy. A world-class team of threat researchers and proprietary AI-powered engines provide unmatched threat intelligence to detect and prevent known and unknown threats. The company is headquartered in California with offices in Europe And AsiaFor more information and career opportunities, visit https://www.malwarebytes.com.

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Source: Malwarebytes