7 Types of Ransomware Attacks in 2024

Ransomware is malware that encrypts files and demands ransom for the decryption. This malware has become one of the most rampant forms of cybercrime encountered nowadays. Its nature and scope have grown dramatically over the past decade in terms of sophistication and scale-with ransom demands pouring in billions of dollars every year from businesses and individuals alike. This is where ransomware-as-a-service has come into vogue to cater to more amateur cyber-crooks wanting to attack organizations of all sizes with an exponential rise in such attacks. Attackers are also resorting to a much more sophisticated approach, like double extortion. That’s where the attackers encrypt the data and say that they will leak out the sensitive information if their ransom demands are not met. With these proliferating attack methods, from phishing emails to exploiting vulnerabilities in the software, it becomes very important for organizations to be properly informed about the various types of ransomware specific to 2024. Organizations in the U.S. are the businesses most likely to be affected by ransomware, accounting for 47 percent of attacks in 2023.

Understanding these specific threats is vital for developing effective prevention strategies and creating robust incident response plans to mitigate the potential impact of ransomware attacks in today’s increasingly digital landscape. Additionally, 93 percent of ransomware is Windows-based executables, highlighting the need for targeted defenses in environments running this operating system.

In this article, we will explore the various types of ransomware that have emerged, their impact, methods of detection, and preventive measures. Understanding these details can empower organizations and individuals to defend themselves more effectively.

What is Ransomware?

Ransomware is a type of malware specifically directed against the inability to access a computer system or data. Most of the time, it works by encrypting files so that they cannot be accessed unless a sum of money is paid, which is called the “ransom,” to the attacker. In a ransomware attack, the victim is commonly given a formidable situation with which to deal: either pay the ransom in hopes of recollecting their files or risk losing their data irretrievably.

Such attacks are often emotional and financial, mainly when the attacked businesses’ operations depend on such critical data. Even further, when a victim chooses to pay the ransom, there is a guarantee that they might not recover the data or even that the attackers will strike them again in the future. Some attackers will take the ransom, give no decryption key, and then force the victims to be quiet over it. This alone explains why better measures of security such as regular backups and incident response plans are needed so as not to get caught off guard in these attacks.

7 Types of Ransomware Attacks

Understanding the various ransomware types is important to prevent and have effective response mechanisms. Each ransomware variant comes in a different form, characteristic, and type of attack, so being familiar with each one is necessary to help organizations prepare their defenses against breaches and minimize damage.

Different types of ransomware, that include crypto-ransomware that encrypts files and locker ransomware that locks users out of their systems, each pose a different danger and call for unique detection and mitigation strategies. Let’s explore some major types of ransomware:

1. Crypto Ransomware: It is arguably one of the most famous kinds of ransomware. This ransomware has been developed to encrypt valuable files on a user’s device or across a network. The attackers target their crucial data so that it cannot be accessed easily and often causes massive disruption, especially for those businesses with primarily digital assets. The attacker will then demand payment, in cryptocurrency, most of the time, to allow access to a decryption key once it has encrypted the files. Crypto ransomware is not easy to detect because it can go undetected until files are locked. However, some signs of unusual access to files or large-scale data modification may serve as an early warning.
2. Locker Ransomware: Locker ransomware is unique from other crypto-ransomware because instead of encrypting, it locks all users entirely out of their systems. Users receive a ransom demand for money with a note to unlock the system from the locked state on their desktops. Locker ransomware does not delete or encrypt data; however, completely blocking access may cause significant disruption to your business operations or computing activities. Detection usually happens after the system has already locked, but proactive monitoring for unauthorized changes in the system can help identify this threat much earlier. Organizations can prevent locker ransomware attacks with robust access controls, multi-factor authentication (MFA), and security patches applied in a timely manner to close vulnerabilities.
3. Scareware: Scareware uses psychological manipulation rather than direct encryption or even system locking. This particular type of ransomware lures users into believing their systems are infected with malicious software, shows false antivirus messages, and persuades users to buy scam software in a supposed effort to “cure” a problem that doesn’t exist. In some cases, scareware may attempt to encrypt files, but the typical attack mode is through fear-based coercion. Scareware tends to be lesser in impact compared to other ransomware infections when financial loss is concerned, but the targeted victims undergo psychological stress and lost resources are damaging. Scareware is detected much more easily than other types of ransomware, through its overt fake warning messages or alerts. Prevention can be achieved through educating users about phishing and scam tactics and using anti-malware software to block such alerts.
4. Doxware (or Leakware): Doxware, or leakware, is the newest addition to the ransomware threats. Unlike regular encrypting ransomware, they steal confidential or sensitive information and threaten to make its disclosure if some sort of ransom payment is not received. This makes it a big threat to any organization that deals with private customer information, financial records, or other forms of intellectual property. Besides the resultant interruption in activity, the malware also causes sensitive data exposure, which might bring some damage to reputation, liabilities in terms of laws, and monetary fines from regulatory bodies. Doxware must be overseen keenly because it will exfiltrate data and access necessary files without the consent of administrators. To prevent attacks through doxware, organizations have to encrypt their secret information, apply DLP software, and conduct regular audits to detect access by unauthorized parties to confidential information.
5. Ransomware-as-a-Service (RaaS): Ransomware-as-a-service or RaaS refers to a scheme of business in the cybercrime world, allowing incompetent hackers to carry out powerful ransomware attacks by buying ransomware kits from expert hackers. One of the main reasons why ransomware attacks are on the rise is that an attacker does not require technical skills to use these tools any longer. The more acceptable this makes it, the easier it is to unleash such attacks. RaaS platforms take many aspects of legitimate software and can be quite difficult to determine during the early stages of its lifecycle. The only sure way to detect such incidents at an early stage of the attack is continuous network traffic monitoring supplemented by advanced anomaly detection systems in this day and age. To prevent RaaS attacks, organizations should adopt the zero-trust security model, invest in threat intelligence systems, and continually educate employees to identify potential attack vectors, such as phishing emails and infected links.
6. Double Extortion Ransomware: Modern ransomware is one of double extortion ransomware, a thing that originated from the traditional encryption-based attack. In such ransomware, besides encrypting the data of a victim, such attackers exfiltrate it and threaten to publish it if the ransom demand is not met. The pressure may increase for the victims as they are businesses dealing with confidential information. The impact of double extortion includes both the operational disruption arising from the encryption of data and the reputational and legal risks arising from data breaches. Thus, the detection of double extortion requires tools that monitor file encryption activities as well as data exfiltration. Preventive measures include robust data encryption, segmentation of sensitive systems to limit attack vectors, and use of data loss prevention tools to reduce the chances of unauthorized access or data leakage.
7. Fileless Ransomware: This type of ransomware does not rely on typical file-based traces to execute its attacks. Instead, it leverages actual, legitimate applications and processes. This makes fileless ransomware invisible to typical antivirus solutions. Attackers would use scripting languages such as PowerShell to encrypt data in memory, which brings considerable operational disruption because essential information is not accessible. Since the malware uses legitimate applications, it can avoid detection and extend breaches. This threat calls for improved system behavior-based monitoring tools that can detect unusual use of applications and suspicious scripts. Prevention requires good access controls, regular updates of software, EDR solutions, and self-training by the employees on the threat of running unknown scripts.

What are the Options Left After a Ransomware Attack?

The options available to the victims when they experience a ransomware attack are very limited. The selection of one may have bad implications since inappropriate responses can only compound the problem or lead to further loss of data. Here are some of the primary paths that can be undertaken once victims fall victim to a ransomware attack:

• Restoration from Backups: The best thing you might do if you are doing an organized backup system is restoring data from these backups. A good schedule of backup ensures that encrypted files will not be lost when ransomware requires money. Also, the backups themselves must be stored offline or in a safe room as ransomware sometimes spreads to connected backups. This method is often the fastest and cheapest solution if the backups are current and have not been tampered with.
• Paying the Ransom: Although law enforcement agencies generally advise against paying ransom, some victims wish to get back their data and pay for ransom to get their decryption key. It is important to note that paying the ransom does not guarantee access to the decryption key from the attacker, nor does it ensure complete malware removal from the system. Additionally, it emboldens cybercriminals, which will make them attack next time. This is a last resort and always to be done after considering all other alternatives.
• Rebuilding Systems: In rebuilding systems, infected devices are totally wiped and reinstalled with all software and data. The process proves, although costly in terms of time, to be one of the surest methods to eradicate malware. Access to unaffected backups and an existing and well-documented recovery plan is critical to bring back critical applications and data. Hence, rebuilding systems could be operational downtime but work toward long-term security without caving in to ransom demands.
• Contacting Law Enforcement:  Ransomware attacks must be reported to law enforcement agencies in general efforts at tracking and combating cybercrime. Reaching out to law enforcement is especially important when certain ransomware variants have known decryption keys. Reporting attacks helps gather information that may prevent similar incidents from happening again or assist other victims. This is something everybody should do, as it encourages collaboration in the fight against ransomware.
• Engaging Cybersecurity Professionals: Victims ought to involve cybersecurity professionals or incident response teams. The incident response team will be vital in assessing and understanding the effects of the attack, weaknesses to exploit, and recovery efforts to undertake in an effective manner. They are going to be very necessary for communication with various stakeholders and ensure that the organization responds effectively in coordination. Hiring the professionals helps enhance the organization’s understanding of the incident and a stronger cybersecurity posture subsequently.
• Public Relations and Communication Strategy: Depending on the scale of the attack and the type of information that has been exposed, organizations affected by ransomware should also consider having a public relations and communication strategy. Organizations should prepare for transparent communication with affected parties like customers, partners, or staff, depending on the scale of the attack and the type of data exposed. It is absolutely important in such a crisis to have a clear communication plan to continue gaining trust and reputation management.

Preventive Measures Against Ransomware

Preventing ransomware requires a layered approach. The threat is constantly changing, so it’s essential to always be in a proactive state of securing your system. Some preventive measures are:

1. Regular Backups: Regularly backing up data is one of the most effective defenses against ransomware. Backups should be performed frequently and stored offline or in locations that cannot be easily accessed by attackers. This ensures that if data is compromised, it can be restored without paying a ransom. Verifying the integrity of backups and periodically testing the restoration process are also essential steps in ensuring preparedness.
2. Patch Management: Ransomware takes advantage of the vulnerabilities found in older software or systems. A patch management plan ensures all applications, operating systems, and devices are updated with released security patches. Patches applied on schedule close the security gaps that could be used by ransomware to enter the network and decrease the chances of successful attacks.
3. Endpoint Protection: Advanced endpoint protection systems, which include antivirus, anti-malware, and EDR tools must be deployed, which can detect ransomware before it spreads. Contemporary and future security solutions rely on AI and machine learning for detecting suspicious activity, isolating threats in real time, and preventing malware from running on endpoints. A good endpoint protection strategy is an essential first line of defense against ransomware.
4. User Education: Human error is considered the main reason for ransomware infections. These are often carried out via phishing emails or malicious attachments. Training employees consistently to identify potential threats, such as suspicious links or email attachments, is one of the more effective ways to minimize the chance of infection. Best practices on how not to click a link if you do not know the sender, and not to respond to emails that look suspicious or that one receives unexpectedly, largely help in preventing ransomware from spreading its activities in that environment.
5. Network Segmentation: Network segmentation separates the network into isolated smaller segments, thus limiting the malware’s access with the intention of spreading. Organizations minimize the effect with which the ransomware attack inflicts its damage if they segment critical systems and limit access to sensitive data. Thus, segmentation helps ensure that the ransomware cannot spread to parts of the network even when a portion of the network gets compromised so as to preserve the integrity of essential systems.

Mitigate Ransomware Attacks with SentinelOne

The SentinelOne Singularity™ Platform is a leading solution in the fight against ransomware, offering cutting-edge, AI-driven technology to detect, prevent, and respond to cyber threats in real time. SentinelOne provides comprehensive endpoint protection, ensuring organizations remain resilient against ransomware attacks. Here are key ways the Singularity™ Platform mitigates ransomware threats:

• Real-Time Autonomous Detection and Response: The Singularity™ Platform is furnished with advanced artificial intelligence and machine learning capabilities, allowing it to autonomously detect and respond in real-time to ransomware threats. Endpoint activity will be monitored, keeping eyes open for suspicious behavior, such as unusual file access or encryption attempts – which will identify ransomware attacks before damage is done. This advantage is neutralizing threats without interference from humans. The moment hackers try encrypting files or locking down systems, the system automatically reacts to stop the attack from proceeding.
• Rollback Capabilities to Restore Encrypted Files: Once ransomware locks files, it allows organizations to roll back data to its previous state due to the rollback feature of the Singularity™ Platform. This is particularly valuable in minimizing downtime and operational disruption because it enables businesses to quickly recover from an attack and are not required to pay a ransom. They could keep running business by rolling back their systems to the state pre-attack with no loss, thus minimizing the consequences of an attack and ensuring business continuity. It acts as a safety net in providing recovery options, even if defenses are temporarily breached.
• Complete Visibility Across All Endpoints: Singularity™ offers complete visibility into all endpoints across an organization’s network, which allows IT teams to track, monitor, and manage every single device from a single centralized console. This gives way to the early detection of suspicious activity on any endpoint, thus highly reducing the attack surface and ensuring that no device is left vulnerable. Centralized management of the platform also made it easy to enforce security policies so that consistent protection could be applied network-wide while devices were either on-site or remote.
• Automated Threat Remediation: The Singularity™ Platform has a powerful feature that allows it to automatically remediate threats without requiring manual intervention. It will separate an infected device, kill the malicious processes, and delete the ransomware while it is still localized on the network from further spreading. This automatic remediation process effectively prevents lateral movement from one system to another where the ransomware may attach to a second compromised system. The platform acts rapidly, automatically, and effectively to contain and neutralize the threat before significant damage can be done.
• Zero Trust Security Approach: SentinelOne integrates a Zero Trust security model into the Singularity™ Platform, ensuring that no device, user, or application is trusted by default. By implementing strict access controls and verifying every interaction on the network, the platform dramatically reduces the likelihood of successful ransomware attacks. This approach is especially effective in defending against attacks initiated by compromised user accounts or insider threats. Every request is authenticated and authorized, ensuring that malicious actors cannot easily exploit network vulnerabilities.
• Proactive Threat Intelligence: The Singularity™ Platform is constantly updated with the latest global threat intelligence, keeping it ahead of evolving ransomware tactics. By analyzing threat data from around the world, the platform can predict and defend against new ransomware variants before they become widespread. This proactive approach ensures that organizations are not only protected against known threats but are also prepared for emerging attacks. The continual infusion of new threat intelligence allows the platform to adapt to the ever-changing ransomware landscape, providing up-to-date protection at all times.

Conclusion

Ransomware has remained at the forefront of the list as the most voluminous cyber threat with new variants and methods emerging every year. The digital arena is becoming increasingly complex, and therefore awareness about the different types of ransomware cannot be neglected. Organizations must stay updated about these types of threats – from Crypto Ransomware to Double Extortion Ransomware – by enforcing advanced preventive measures to reduce their risk of exposure to a possible attack.

A proactive cybersecurity posture is critical in today’s threat environment. Best practices such as regular backups, patch management, user education, and endpoint protection have to form the bedrock of any cybersecurity practice, but when faced with increasingly complex attacks like ransomware, solutions have to be that much more sophisticated. AI-enabled, real-time protection through market-leader tools such as the Singularity™ Platform from SentinelOne will ensure the achievement of early detection and prevention of attacks, coupled with faster response in the event of a breach. Adding such technologies to the security infrastructure of an organization can successfully safeguard key assets and minimize the disruption caused by ransomware attacks.

FAQs

1. What are the 6 main types of ransomware?

The six main types of ransomware include various strategies employed by cybercriminals to extort money from victims. Crypto Ransomware encrypts files, making them inaccessible until a ransom is paid for a decryption key. Locker Ransomware locks users out of their devices entirely, displaying a ransom note. Scareware tricks individuals into purchasing fake antivirus software by presenting false alerts about malware infections. Doxware (or leakware) threatens to publish sensitive data unless the ransom is paid. Ransomware-as-a-Service (RaaS) allows criminals to lease ransomware tools, lowering the barrier to entry into cybercrime. Lastly, Double Extortion Ransomware encrypts files and threatens to leak stolen data, intensifying the pressure on victims. Understanding these types is crucial for developing effective defenses.

2. What is the most common attack for ransomware?

It is asserted that phishing emails are the most common form of ransomware attacks. The way cybercriminals get these emails is by making them appear legitimate enough so that recipients may open their attachments or click on malicious links. Once activated, the ransomware encrypts files and starts demanding a ransom. Apart from phishing attacks, other forms of attacks include some that exploit vulnerabilities in software, as well as RDP attacks to gain entry into systems. This further underlines the value of training for users in identifying suspicious emails, since one successful phishing attempt may turn out into huge outbreaks of ransomware.

3. What should victims do after a ransomware attack?

Following a ransomware attack, the infected machines should be segmented away from the network to prevent the malware from spreading everywhere. The attack can also be contained by disconnecting affected devices from the internet. They should then report to law enforcement and cybersecurity agencies in an attempt to track attackers and recover data. Victims then should assess themselves and look for recent backups so as to determine if data might be recovered without paying the ransom.