The Cost of Paying in a Ransomware Attack Nearly Doubles While Downtime Also Increases

(Howard) #1

From the KnowBe4 Security Awareness Training Blog

The latest data from Coveware shows increases across the board in ransoms, downtime, and average cost of an attack, mostly due to the increased use of the Ryuk ransomware variant.

Ransomware attacks are particularly bothersome, as they not only take up IT’s time to remediate, but they also impact an organization’s productivity and wallet. According to Coveware’s Q1 Ransomware Marketplace Report in just three-month’s time, ransomware has taken an upturn in every aspect of the attack – changes definitely worth noting.

According to the report, three strains (Ryuk, Bitpaymer, and Iencrypt) have caused the rise in the cost of addressing a ransomware attack. Looking at Q1 2019 over Q4 2018, the following trends have appeared:

  • Ransoms increased 89% from $6,733 to $12,762
  • The average number of days to address an attack have risen from 6.2 to 7.3 days
  • Downtime has risen 47% , resulting in an average downtime cost of $64,645

The good news is 96% of organizations paying the ransom received a working decryption tool.