About 80 per cent of affected firms have reportedly opted to pay hackers in a bid to protect their data, but one analyst tells CNA each ransom payment subsidises roughly nine future attacks. Companies that pay the ransom when cybercriminals hack their systems could validate the act and contribute to the growth and persistence of ransomware attacks, warned analysts. Lockbit, a ransomware group first seen on Russian-language cybercrime forums in January 2020, has been detected all over the world.
In just three years, it has become one of the world’s top ransomware threats, targeting big corporations such as CNA spoke to cybersecurity analysts to find out why companies give in to hackers' demands and how paying off these cybercriminals is fueling the ransomware industry. Companies should refrain from paying hackers as it sets dangerous precedents for future targets and validates their criminal acts, cybersecurity analysts told CNA