A recent forbes.com article exposed the vulnerability many are now facing with BitPyLocker, the latest ransomware that threatens to expose data. Like other ransomware, this new strain scans infected computers and encrypts all types of files, including documents, spreadsheets, photos and videos.
The disturbing feature of BitPyLocker is that it can eventually compromise entire networks. The victim is left with a ransom note that instructs the victim to pay the ransom or all of the data that is encrypted will be exposed to the public. Of course, the victim’s data will remain encrypted, also, if the ransom is not paid.
The victim is to follow a certain procedure: buy Bitcoin, send to a certain virtual wallet and wait for the encryption tool to be sent. The current ransom is going for over $40,000, which is actually less than some ransomware attacks.
In case the victim does not believe that their information will be decrypted once the ransom is paid, the attackers offer proof that the decryption works by allowing the victim to send a small file to be decrypted for free. Not exactly a generous offer, since this is a high form of cyber crime.
How does the MSP protect against these attacks? It is an ongoing struggle, and the best action is to seek good advice and management from a Managed Services Provider. Take a look at how 24/7 management can ease your technology worries and help your business run smoothly.
Also, ask your technology provider about the importance of Cloud Hosting and Infrastructure as a Service (IaaS), an economical and secure way of storing all of your data.
Stay cyber safe in 2020! Contact us with any questions.