Connect with us

Hi, what are you looking for?

Tech & Science

REvil: Looking behind the new ransomware threat (Includes interview)

Managed.com disclosed in November 2020 that they were hit with a ransomware attack and, to protect the “integrity of our customer’s data,” they decided to take their entire system down, including clients’ websites. According to Bleeping Computer, REvil is demanding a $500,000 ransom in Monero to receive a decryptor.

Managed.com took their servers and web hosting systems offline, including client websites, to protect customer data. Managed.com sites hosting clients are still offline, causing clients to switch to other web hosting providers. Managed.com believed the attack was unscheduled maintenance at first, leaving more time for malicious actors to cause harm. This form of attack highlights the importance of ongoing vigilance.

REvil’, who are based in Russia, deploy a signature tactic of encrypting a company’s servers and then threatening to release or auction off their data. This is an increasingly common scam among ransomware groups.

Looking at the issue for Digital Journal is Sanjay Jagad, Sr. Director Products and Solutions, Cloudian.

Jagad begins by assessing the impact of this form of attack: “This incident spotlights the devastating impact ransomware can have on a company and its customers. As the threat of ransomware continues to grow, businesses must take steps to protect themselves and their customers, or risk damage to brand reputation.”

In terms of the implications, Jagad says: “This is especially critical for managed service providers who not only have their own brand to think about, but the many others that rely on their services. To ensure full protection against ransomware, it is imperative that businesses invest in data protection at the storage level.”

Jagad’s recommendation is that “By leveraging a feature called Object Lock, companies maintain an immutable copy of backup data that will remain invulnerable in the case of an attack. If the system is accessed by malicious actors, the business can simply revert to that uninfected backup.”

Avatar photo
Written By

Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.

You may also like:

Tech & Science

Microsoft announced the new AI-powered personal computers, which will use the company's software under the Copilot Plus brand.

Tech & Science

A further deep-dive into the data finds that cars aged 20 years are most likely to fail their MOT.

Business

The theme for 2024 is #enhancedbyengineering, focusing on profiling the best, brightest and bravest women in engineering.

Life

Mushrooms are the fleshy, fruiting bodies of some species of fungi, typically isolated from decaying matter in soil or wood or decomposing animals.