March 10, 2018
In recent times, where individuals enjoy so many perks of digitalization, they are also on threat by a growing . This malevolent software acquires the victim’s personal data and information without consent and threatens to leak it or block access to it unless freed by paying ransom. However, the prominent cyber security agency, MonsterCloud, has taken this cyber crisis into account and revamped their gamut of skills to offer a complete eradication of this software right from its roots.
According to the numerous reports from businesses all around the world, Ransomware has gravely caused destructions to their revenues and profitability. As the statistics of last year suggest, the total damage incurred by the infection of this software was around $5 billion. This is an alarming situation since the businesses are in lucrative jeopardy and need a way out.
We happened to speak to the CEO of MonsterCloud, Zohar Pinhasi in a conference meeting. In the meeting, he talked about the prevailing need for better, improved, and more efficient services to secure businesses and assist them in recovering from and preventing such cases from occurring in the future.
Quite recently, MonsterCloud assisted a Fortune 500 company listed on NASDAQ, in recovering from a ransomware assault. The hackers were asking for a ransom in the amount of $500 000.
MonsterCloud restored all of its compromised files for less than 24 hours, allowing it to buy time and come up with effective countermeasures for the future.
When asked about the during the conference, he said, “The amnesia ransomware is the latest threat circulating in this deadly method of data invasion. Like every other method of ransomware, Amnesia also makes its way to your official data through an email form of communication. As soon as the ransomware gets executed on your device, it starts attacking and encrypting all files and data in your setup. The encryption algorithm used here is very strong and does the damage to make all files inaccessible to you. The damage is not limited to this, as the ransomware also changes the file extensions to make them unreadable for the system. The ransomware then displays a ransom note, which specifies the payment you should pay for getting your information back.”
We inquired about the credibility of retaining the victim’s information and data after making the payment. To this, Zohar Pinhasi answered, “It’s good that you’ve asked this question, because we wanted to point this out. There have been numerous cases where the victims have been given a decryption tool after making the payment. However, the decryption tool rarely works and is useless. In the odd case that it does work, it will not save you from the presence of the Ransomware in your system, which can attack back again at anytime.”
In the retrospective of the inference caused by Ransomware, the CEO of MonsterCloud has ensured that the company notches up its cyber security and introduces improved measures to eradicate ransomware right from the geneses. The revamped measures taken will offer quicker and more effective solutions to businesses that are at perilous risks threatened by ransomware that can jeopardize their profitability, significantly.
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