WannaCry Attack Is A Big Wake-Up Call

2017 Can be marked as “The year of Ransomware” when we witnessed some massive ransomware attacks. 

Amongst recent ransomware attacks WannaCry has turned out to bet the most crippling yet. It shook the entire world in a weekend. More than 200,000 devices in 150 countries were affected, including hospitals, banks and major telecom industries.(image shows geographic extent of the initial attack).

The WannaCry ransomware outbreak is a wake-up call for the world. WannaCry, also known as WanaCrypt0r 2.0, can penetrate Microsoft Windows systems by exploiting a vulnerability called EternalBlue,orginally developed by the NSA, then stolen by hackers. It highlights not only our interconnectedness and dependency on technology but the massive challenge we face in securing the software systems we rely on.

Here’s How It Works 
WannaCry which derives from WannaCrytpt or WannaCyptor first, locks up your computer until the owner agrees to pay the ransom. And yes, the longer you wait the more you suffer. Cyber criminals are demanding ransom of 300$ in the form of bitcoin currency to set your computer free. If you don’t pay up, then after a week the hackers threaten you to permanently delete all your data and important files. Although, we ‘ve been hearing the “Don’t pay the ransom” catchphrase all our lives, but seems like some users have already paid 50,000$ bitcoin in ransom so far.

The WannaCry infection stood out from earlier attacks for the speed with which it spread, and the way that the code was used to lock down infected computers until their users paid a ransom. It is a wake-up call at a time when the fight for cyber security already looked perilous.

The attack followed the leak earlier this year of a batch of cyber-weapons built by the US National Security Agency. One of them, according to computer security experts, provided the blueprint for the latest malware. If so, that is a serious black mark for the security services. It is unrealistic to expect agencies like the NSA to voluntarily give up cyber-offence, particularly when their adversaries are likely to have similar digital armaments. But a stronger public debate is needed about what these weapons are for, how they are being protected and how they might be used. Not only is it unclear what software is being stockpiled or how it is being protected, but there is no disclosure about whether — or how — the weapons are actually used.

The second notable point about the WannaCry worm is that it was able to spread so far, and so fast. For Microsoft, that makes it an uncomfortable reminder of how devastating even one software vulnerability can be. The company acted quickly to produce a fix for versions of the software it no longer supports, like Windows XP. But successive generations of the operating system have been found wanting. Windows 10, launched in 2015, was not vulnerable to the ransomware and is widely viewed as a big step forward in safety — but it will be many years before all the older software is retired. Stronger incentives are needed to prompt users to replace rather than patch out-of-date pieces of code like Windows XP. Microsoft should do everything it can to move users on to newer, safer software.

When it comes to current software, effective carrots and sticks are needed to persuade companies, governments and individuals to do what everyone knows needs to be done: patch their computers when a flaw is discovered. Stronger rules are required to force companies to disclose when they have succumbed to a cyber-attack, and penalties may be needed to encourage us all to be better cyber-citizens.

Many pieces of digital equipment, like the MRI scanners used by the UK’s National Health Service, which run Windows XP, cannot be upgraded as easily as a PC. The severity of last week’s attack shows that a concerted effort is now well past due. This is reminiscent of the millennium bug, another serious threat that forced an overhaul of many computer systems at the end of the 1990s.

Today’s cyber security crisis is starting to look every bit as serious, and it demands an equally sweeping response. Governments and companies alike must invest the time and money to keep us safe.

Though damaging, the WannaCry worm was not the worst that could have happened. It could have been used to wipe out the data on computers it infected. The ransomware has been a costly nuisance. Next time, we might not be so lucky.

SysTweak Blog:         FT.com

You Might Also Read: 

Massive Ransom Attack Hits 99 Countries:

Microsoft, Kaspersky & Symnantec Weigh In On WannaCry Ransomware:

Ransom Worm: The Next Level Of Cybersecurity:

 

 

« Hackers Came, But the French Were Prepared
US Reduces Crime Rates Using Effective IT »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

The Hacker News (THN)

The Hacker News (THN)

THN is a leading source for Information Security, Hacking News, Cyber Security, Network Security with in-depth technical coverage of issues and events

Davis Wright Tremaine (DWT)

Davis Wright Tremaine (DWT)

Davis Wright Tremaine is a full-service law firm with offices throughout the US and in Shanghai, China. Practice areas include Technology, Privacy & Security.

Akin Gump

Akin Gump

Akin Gump practice areas include Cybersecurity, Privacy and Data Protection.

TestFort

TestFort

TestFort QA Lab is a specialized software testing company offering independent quality assurance and software testing services.

International Association for Cryptologic Research (IACR)

International Association for Cryptologic Research (IACR)

(IACR is a non-profit scientific organization whose purpose is to further research in cryptology and related fields.

Bolton Labs

Bolton Labs

Bolton Labs is a leading provider cybersecurity services, tools, and analysis for MSPs and organizations who want to scale their security offerings.

National Cyber Security Centre (NCSC) - Ghana

National Cyber Security Centre (NCSC) - Ghana

The National Cyber Security Center (NCSC) liaises with relevant state agencies and the private sector to oversee cyber security operations in Ghana.

Cybersecurity Innovation Hub

Cybersecurity Innovation Hub

The main objective of the Hub is to bring cybersecurity and other advanced technologies closer to companies and as a result help to increase their performance as Industry 4.0.

National Forensic Sciences University (NFSU)

National Forensic Sciences University (NFSU)

National Forensic Sciences University is the world’s first and only University dedicated to Digital Forensic and allied Sciences.

astarios

astarios

astarios provide near-shore software development services including secure software development (DevSecOps), quality assurance and testing.

AUTOCRYPT

AUTOCRYPT

AUTOCRYPT is a mobility security provider dedicated to the safety of future transportation

DoControl

DoControl

DoControl gives organizations the automated, self-service tools they need for SaaS applications data access monitoring, orchestration, and remediation.

Twingate

Twingate

Twingate help organizations secure and manage access to their technology resources in a world where people work from anywhere.

Trace3

Trace3

Trace3 is a pioneer in business transformation solutions, empowering organizations to keep pace with the rapid changes in IT innovations and maximize organizational health.

VinCSS

VinCSS

VinCSS Internet Security Services JSC is a leading organization working in the field of researching, developing, producing products as well as providing cyber security services.

Northdoor

Northdoor

Northdoor provides a comprehensive set of services around information security and works with leading global technology vendors to deploy and manage cyber security solutions.