A troubling new ransomware trend is gaining momentum. Known as the “pay or get breached” trend (also called the “double extortion” scheme), it gained a foothold in 2020 and is gaining steam as we begin 2021. 

With more than 550 incidents in the fourth quarter alone, ransomware attackers have not been shy in adopting the “pay or get breached” scheme.

While there has been an increase in ransomware attacks as of late, one thing is essential to know: ransomware is getting smarter. What exactly does that mean? Essentially, ransomware developers are attacking computer backups to prevent recovery in the event of a ransomware attack.

Ransomware has been a popular topic on our blog in 2020, and for a good reason. It continues to affect businesses and be a highly relevant and growing threat amid COVID-19.

One industry that has been primarily targeted by ransomware: healthcare and the public health sector.

Somewhere -- right now -- countless cybercriminals are planning ransomware attacks and have likely been planning each attack for weeks or even months.

At any given time hundreds of companies could have ransomware cybercriminals invisibly hiding in their network and planning their next move.

It’s a common misconception that ransomware attackers quickly deploy and then retreat, so they remain anonymous. If you ask most victims of a ransomware attack, this is likely their assumption. On the contrary, ransomware attacks can range from only one day to up to multiple years—that is to say, attackers indeed do not flee the scene after their initial attack.

According to TechRepublic, the CFO of a small company in Kentucky fell victim to a ransomware attack. Through an interview with the CFO, TechRepublic was able to reveal why the company chose to pay the ransom (in Bitcoin) to regain control of their systems.