24 Hours Later: “Unprecedented” Fallout From “Biggest Ransomware Attack In History” 

Source: Zero Hedge

24 hours after it first emerged, it has been called the first global, coordinated ransomware attack using hacking tools developed by the NSA, crippling over a dozen hospitals across the UK, mass transit around Europe, car factories in France and the UK, universities in China, corporations in the US, banks in Russia and countless other mission-critical businesses and infrastructure.

According to experts, “this could be one of the worst-ever recorded attacks of its kind.” The security researcher who tweets and blogs as MalwareTech told The Intercept, “I’ve never seen anything like this with ransomware,” and “the last worm of this degree I can remember is Conficker.” Conficker was a notorious Windows worm first spotted in 2008; it went on to infect over 9 million computers in nearly 200 countries.

The fallout, according to cyber-specialists, has been “unprecedented”: it has left unprepared governments, companies and security experts from China to the United Kingdom on Saturday reeling, and racing to contain the damage from the audacious cyberattack that spread quickly across the globe, raising fears that people would not be able to meet ransom demands before their data are destroyed.

As reported yesterday, the global efforts come less than a day after malicious software, transmitted via email and stolen from the National Security Agency, exposed vulnerabilities in computer systems in almost 100 countries in one of the largest “ransomware” attacks on record. The cyberattackers took over the computers, encrypted the information on them and then demanded payment of $300 or more from users in the form of bitcoin to unlock the devices.

The ransomware was subsequently identified as a new variant of “WannaCry” that had the ability to automatically spread across large networks by exploiting a known bug in Microsoft’s Windows operating system.

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Finally, there is the question who is behind this coordinated global attack. Not surprisingly, Russia has been named. There is a high-probability that Russian-language cyber-criminals were behind the attack, said Aleks Gostev, chief cybersecurity expert for Kaspersky Labs. “Ransomware is traditionally their topic,” he said cited by Bloomberg. “The geography of attacks that hit post-Soviet Union most also suggests that.”

Whoever is the responsible party behind this first, global, coordinated ransomware attack, the have demonstrated one thing: the world is thoroughly unprepared for cyberwar.

“As with everything in cyber, we’re now waiting for the next type of attack,” Paul Bantick, a cyber security expert at Beazley, a global insurance underwriter, told the NYT.

“Ransomware like this has been on the rise over the last 18 months,” he added. “This represents the next step that people were expecting.”

As such, it is only a matter of time now before an even greater, more destructive cyberattack is unleashed on the world.

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