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Ransomwares Perfect Storm: Inside the Rise of Double Extortion
View Original Article How COVID-19 Created a Gold Mine for Cyber Criminals 2020 was a hacker's dream. Overnight, millions of Americans traded in business casual for sweatpants, and peace of mind for fear and uncertainty. The result? A 715% increase in ransomware attacks compared to 2019 (per Bitdefender). In this article, we will discuss the rise of double extortion attacks, why COVID-19 created a perfect landscape for cybercrime, and finally, how companies can best protect themselves moving forward. Pre-Pandemic: The Rise of Double Extortion The first documented ransomware virus, known as the AIDS Trojan or PC Cyborg, was created in 1989 by evolutionary-biologist Dr. Joseph L. Popp. Leading up to the World Health Organization’s International AIDS Conference in Stockholm, Sweden, Popp gained access to an event mailing list, and distributed more than 20,000 infected floppy disks to potential attendees. The disks, labeled “AIDS Information…
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