Inc Ransom Added Another Victim to Its List
Inc Ransom announced another ransomware hit, this time against UK-based Graypen Ltd. This is an award-winning service provider, delivering port agency services for more than half a century.
- Inc Ransom provided a detailed summary of the victim’s profile but didn’t mention the exact type of data being leaked
- The victim didn’t post any public comment about the ongoing situation, but one may appear later, depending on how things progress
- Inc Ransom hackers portray themselves as service providers, helping victims realize their system vulnerabilities
- The cybercriminal organization first appeared in July of 2023, which makes it one of the newest ransomware actors in the market
Ransomware attacks can be extremely debilitating, causing reputational and financial damage. According to the data, ransomware actors have received an accumulated $457 million in ransom payments in 2022.
This is a considerable drop from the previous year, as the 2021 gains were in the neighborhood of $766 million. The same statistic shows that the estimated cost of cybercrime is projected to increase by around $5.7 trillion between 2023 and 2028.
This would bring the total costs up to $13.82 trillion at the 2028 peak.
This shows that, despite a visible drop in frequency and gains in 2022, ransomware attacks are actually on the rise today. And Inc Ransom is riding the wave more skillfully and aggressively than most.
The organization first came public in July of 2023 and quickly grew to become a global threat. As the reports show, Inc Ransom hackers are quite aggressive during negotiations, and they use advanced ransomware strains to breach their targets.
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How to Evade Inc Ransom
The ransomware gang promotes itself as a service provider, breaching the victims and then asking for payment in exchange for them highlighting the victim’s vulnerabilities. As many have pointed out, that is just a cheap tactic meant to make the victim pay.
When it comes to the preferred target profile, Inc Ransom doesn’t discriminate. The hackers always follow the money, no matter the industry or the target’s magnitude. Inc Ransom can hit small, medium, and high-value targets just as easily.
When it comes to dealing with Inc Ransom, the best protection is improving cyber-defenses. But if these fail, experts recommend a cold-shoulder approach. A no-negotiation policy appears to be the best choice.
As cybersecurity professionals explain, paying the ransom doesn’t guarantee anything other than gaining access to the decryption key. Nothing is guaranteed when it comes to the stolen data. Although the hackers promise that they will delete it, you can’t verify that.
As records show, most cybercriminal actors either sell the data afterward, publish it online for free, or keep it. They can then use it for other purposes later down the line, including sharing it with other ransomware actors.
The best way to go about it is to refuse any type of negotiation and work with cybersecurity experts to improve cyber defenses. If everyone uses this approach, the hackers will soon go out of business.