Ransomware attacks spike as world distracted by AI

Ransomware attacks jumped nearly 20 percent in July, with UK firm Comparitech counting 799 incidents, up from 668 in June. Of those, 51 had been confirmed by victims. The tally makes July the second-busiest month of the year for ransomware, behind March, albeit just barely, when the firm recorded 805 attacks. The most interesting data after this surging month of attacks is the targets: While news of widespread cyberattacks targeting water infrastructure in the United States may be dominating security headlines lately, those attacks aren’t ransomware, and ransomware attacks on utility companies were actually down 44 percent last month. In addition to a decline in attacks on utilities, legal firms and government agencies also became less attractive targets, with attacks on those sectors down 31 percent and 11 percent, respectively, Comparitech said. On the other hand, ransomware attacks increased most heavily in July against finance companies, tech firms, pharmaceutical companies and medical billers, and the education sector, with rates up 71 percent, 62 percent, 46 percent and 44 percent, respectively. Those numbers should come as no surprise given what pentesting firm DeepStrike reported about the most frequent payers of ransomware: Manufacturing, education, healthcare, and financial sector firms are the most likely to pay out a ransom, the firm says, with even the least likely (finance) still paying ransoms 51 percent of the time. Ripe targets, in other words. The United States was the most-targeted country, with 322 of the 799 attacks recorded last month, Comparitech said. Germany, in second place, saw just 40 incidents. As for who’s doing the dastardly deeds, there’s a familiar name in the mix, but they’re competing with a relative newcomer who has quickly become prolific. Qilin, the ransomware gang behind the 2024 attack on pathology provider Synnovis that disrupted NHS services in the UK, claimed 125 ransomware victims in July. The Gentlemen, a relative newcomer that has quickly become one of the most prolific ransomware operations and earlier this year claimed responsibility for an attack on UK software consultancy Adaptavist Group, led July with 135 claimed victims. Between them, the two gangs accounted for nearly 33 percent of attacks logged last month. As for how the crims keep getting in, Comparitech provided no information on ingress routes, but given what we know of the top-tier gangs, it could be simply using stolen credentials, as Trend Micro said of The Gentlemen’s methodology, or it could be abuse of zero-day vulnerabilities, as Qilin told The Register it abused to break into Synnovis in June of 2024. Either way, the takeaway is the same: Ensure employees are using a second secure factor to log in, keep systems updated, and be sure you’re making regular backups. All eyes may be on what AI is doing to the security landscape, but old-school threats aren’t going away. ®