What is ransomware?

Well, if some recent, devastating cyber attacks are any indication, it may be today’s phishing vector of choice. Just a few weeks ago, the city of Baltimore was hit by a massive ransomware attack from a virus called “Robbinhood.” The hackers demanded $76,000 from the city as ransom for the data they stole—in keeping with standard protocol, the city refused to pay the ransom. In a similar attack in Riviera Beach, Florida, the ransom was for $600,000. Hedging their bets, Riviera Beach did pay their ransom.  For both cities, the cost of these attacks was incredibly high—Baltimore is facing almost 20 million dollars in lost revenue and expenditures to restore their data, while Riviera Beach both paid their ransom and demonstrated to hackers everywhere that they can’t afford not to pay a ransom. If they had only had certain processes and knowledge in place prior to the attacks, both of these cities could have fared far better. 

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