This Week in Startups
The Growing Ransomware Threat: Targets, Insights, and Strategies with Halcyon's Jon Miller | E1877
Jan 9, 2024
Jon Miller, CEO and co-founder of Halcyon, discusses the alarming rise of ransomware and its evolving tactics. He reveals how attackers maintain anonymity and leverage AI, alongside the dark underbelly of hacker marketplaces. Jon emphasizes proactive measures startups can adopt for protection and dives deep into the implications of cryptocurrency in cybercrime. Listeners gain insights into the challenges facing businesses post-attack and the crucial role of security strategies in today's digital landscape.
55:53
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Quick takeaways
- Ransomware attacks are increasing due to affiliate programs and advanced tools, making it difficult to trace and enforce consequences.
- Artificial intelligence is used by both attackers and defenders in the cat-and-mouse game of ransomware attacks.
Deep dives
Ransomware Attacks on the Rise
Ransomware attacks have become increasingly prevalent, with attackers using advanced tools and techniques to target businesses, hospitals, and critical infrastructure. These attacks are often carried out by affiliate programs, where individuals can join ransomware groups and utilize their tooling in exchange for a share of profits. The attacks typically begin with phishing emails and compromised credentials, allowing the attackers to gain access to systems and encrypt files. Payments are usually demanded in cryptocurrency, making it difficult to trace and enforce consequences. The lack of repercussions has fueled the growth of ransomware groups and the sophistication of their attacks.
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