Ransomware attacks sky-rocketed in the year 2024, multiplying four times, based on a recent report by Barracuda. The surge is attributed to the rise in ransomware-as-a-service (RaaS) providers, enabling more cyber criminals to engage in such attacks. A detailed study conducted by cybersecurity experts from Barracuda Managed XDR team, scrutinized a staggering 11 trillion IT events to pinpoint potential risks, with a million of those events turning out to be malicious. Out of these, 16,812 were confirmed as attacks demanding immediate defensive measures.
While other forms of attacks like DDoS, malware, and phishing remained relatively steady, ransomware incidents witnessed a substantial surge. The researchers observed a fourfold spike in these attacks throughout 2024. This escalation is believed to be powered by the easy access to RaaS services, making ransomware deployment more accessible to a broader range of malicious actors.
Moreover, the report highlighted that cyberattacks are becoming more rapid. Advancements in security technologies have enabled defenders to spot and eliminate threats quicker, prompting attackers to hasten their operations to heighten the risk. Therefore, it is now imperative for organizations to bolster their security measures, emphasizing the need for robust multi-factor authentication, varied access controls, effective patch management, and data protection protocols. Regular training sessions for employees in cybersecurity best practices are also crucial. Barracuda emphasizes the importance of a comprehensive XDR solution encompassing network, endpoint, server, cloud, and email security layers in thwarting evolving cyber threats.