The Largest Ransomware Attacks of 2021 [Infographic]
According to the Department of Health and Human Services Ransomware Trends 2021 report and our own internal data, ransomware is on the rise. And according to research firm Cyber Security Ventures, a business will fall victim to a ransomware attack every 11 seconds this year.
In May of 2021, we witnessed the state-sponsored attack on Colonial Pipeline which represents the largest ever cyberattack in the US. The effects of the attack had a much broader impact than the ransom alone as the pipeline was shut down and fuel shortages stretched across the East coast. Thankfully the Colonial attack hasn’t been repeated. And thanks to the data analysts at Visual Capitalist, we have the below representation of other corporate attacks in 2021 ranked by the amount of ransom. Please note that dollar amounts in the data are amounts requested and not necessarily paid. The FBI still encourages businesses not to pay ransoms because every time a business pays, it encourages future attacks. Even after paying a business is not guaranteed to have its data restored or kept private.
We highlighted previously, that the average ransomware payments had been on a sharp rise in Q4 2020 to an average of $220,298. And the Ryuk/Conti ransomware cost hospitals over $500 million combined in 2022. While these smaller attacks easily dwarf larger attacks in aggregate dollar value, it’s the larger attacks that gain the headlines and create awareness. In fact, it’s impossible to know the actual size of all ransomware attacks as many still go unreported.
Forecasts from Grandview Research indicate the global cybersecurity market could grow from nearly $180bn in 2021 to more than $370bn by 2028. As a persistent global concern, cybersecurity affects every organization from large enterprises to small local businesses across all industries.
To learn more, review the 2022 State of Ransomware survey or contact us to make sure your data and systems are properly protected.