Ransomware attacks surged by 133% in India amid global decline
India experienced a massive surge in ransomware and IoT cyber attacks in H1 2023, while countries like the US and UK saw a decline, according to SonicWall's mid-year cyber threat report. This rise in cyberattacks poses significant risks to India's economic aspirations. As cyber criminals diversify their skills to target critical infrastructure, industries from manufacturing to pharmaceuticals face increased vulnerability due to digitization.
Ransomware attacks declined globally by 41%
As per the report, India and Germany were the top-listed countries that saw a surge in ransomware attacks, with 133% and 52%, respectively. Globally, ransomware attacks were down 41%. However, cryptojacking spiked by 399%, IoT malware by 37%, and encrypted threats by 22%. SonicWall's report highlights that threat actors are targeting schools, governments, and retail organizations, causing system downtime, economic loss, and reputational damage.
Robust security measures should be adapted
To combat the growing threat of ransomware, IoT malware, and encrypted attacks, organizations must reevaluate their security needs. Findings suggest that cybercriminals are shifting to low-cost, high-return methods like cryptojacking, wherein hackers gain access to a computer to mine cryptocurrencies. In such a scenario, organizations need to prioritize security measures to protect themselves from evolving cyber threats.
