Cryptocurrencies and Insurance Increases Ransomware Profitability

Ransomware is rising like a phoenix from the ashes again. Companies are paying enormous ransoms in cryptocurrencies and insurance companies paying out claims, which in turn is adding to the rise in cyber threats. What is the reason that with the advanced technology that we have been unable to stop the ransomware attacks? Primarily companies are using complex integrated systems that are far and above their capability to secure. Just keeping them updated and patched to prevent exploitations of various vulnerabilities is above most of their competencies, leaving ransomware gangs open doors to attack them. When they do a patch, they only apply fixed the most critical ones while leaving plenty of other unpatched “open doors with lights on” just inviting hackers or ransomware to infect their data.

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