December 2024 marks the 35th anniversary of the first ransomware attack and the 20th anniversary of modern criminal ransomware. Over the years, ransomware has evolved into a major criminal enterprise, with various innovations and changes seen. The first ransomware attack, known as the AIDS Trojan, was identified in 1989. As technology advanced, ransomware became more sophisticated, utilizing encryption for extortion-based attacks and evolving payment methods.

In 2004, the first criminal ransomware attack, GPCode, targeted users in Russia and sparked the imagination of criminals, leading to the release of different ransomware variants. With the emergence of cryptocurrencies like bitcoin, ransomware operators found a way to receive payments anonymously, leading to the widespread adoption of crypto payments.

Operators began professionalizing ransomware operations, focusing on expanding their activities and developing specialized services for conducting attacks. The introduction of double extortion in 2019 by attackers using the Maze ransomware highlighted the evolving tactics in ransomware attacks. The impact of ransomware extends beyond financial losses, affecting individuals and organizations on a personal and professional level.

As the IT landscape evolves, businesses and industries must stay vigilant and implement robust security measures to combat ransomware threats. Backups are essential in mitigating the risks posed by ransomware attacks. While ransomware is likely to persist and evolve, the cybersecurity industry continues to innovate in developing solutions to counter these threats.

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