In August, Jaguar Land Rover (JLR) suffered a cyberattack. JLR employs over 32,800 people and provides additional 104,000 jobs via it's supply chain. JLR is the recent victim in a chain of ransomware attacks.
Why such attacks?
Our world is entirely dependent on technology which are prone to attacks. Only a few people understand such complex infrastructure. The internet is built to be easy, and this makes it vulnerable. The first big cyberattack happened in 1988. That time, not many people knew about it.
The more we rely on networked computer technology, the more we become exposed to attacks and ransomware extortion.
How such attacks happen?
There are various ways of hacking or disrupting a network. Threat actors get direct access through software bugs, they can access unprotected systems and leverage them as a zombie army called "botnet," to disrupt a network.
Currently, we are experiencing a wave of ransomware attacks. First, threat actors hack into a network, they may pretend to be an employee. They do this via phishing emails or social engineering attacks. After this, they increase their access and steal sensitive data for extortion reasons. By this, hackers gain control and assert dominance.
These days, "hypervisor" has become a favourite target. It is a server computer that lets many remote systems to use just one system (like work from home). Hackers then use ransomware to encode data, which makes the entire system unstable and it becomes impossible to restore the data without paying the ransom for a decoding key.
Why constant rise in attacks?
A major reason is a sudden rise in cryptocurrencies. It has made money laundering easier. In 2023, a record $1.1 billion was paid out across the world. Crypto also makes it easier to buy illegal things on the dark web. Another reason is the rise of ransomware as a service (RaaS) groups. This business model has made cyberattacks easier for beginner hackers
About RaaS
RaaS groups market on dark web and go by the names like LockBit, REvil, Hive, and Darkside sell tech support services for ransomware attack. For a monthly fees, they provide a payment portal, encryption softwares, and a standalone leak site for blackmailing the victims, and also assist in ransom negotiations.