RansomCloud is a new strain of ransomware that can encrypt cloud e-mails. Here’s what you should be aware of:

 

As you probably already know, the cloud is a “storage” technology that makes it easier and more convenient to work, whether at the office or the comfort of home. Unfortunately, a recent strain of ransomware, dubbed RansomCloud, has recently opened up cloud applications to major cyber-attacks. So, what is this dangerous new cyber threat and how can you protect your business from it?

RansomCloud: What Is It? We already know that this dangerous new piece of software is infecting users’ computers worldwide. But what exactly is it? In short, it’s a new, unusual strain of ransomware software. If you’re not familiar with ransomware, it’s exactly what it sounds like. A cyber-criminal hijacks a user’s computer and holds their data hostage. The infected user can regain access to their files, but only if they pay the requested ransom, which tends to start around several hundred dollars. So how does that work in a cloud storage solution?

It all starts with a phishing email. The most common email comes under the guise of an official Microsoft email. The message tells the reader that “Microsoft” is working on improving their cloud security, and is offering a new piece of anti-spam software. Everyone wants to increase their Spam protection. All the user must do is click the link and they’re good to go! At least, that’s what the email tells them.

What Happens Next? As soon as the user clicks the link and gives the imposter access to their cloud solutions and files, their computer is at risk. You can actually watch your emails and files scramble and encrypt in real time. It would be fascinating if it weren’t so terrifying. Clicking on an email post-attack brings up a message telling you of the encryption. The attacker makes it seem pleasant enough, telling you that they’ll gladly hand over your files for a small ransom, typically paid via cryptocurrency.

Should I Pay? As in other Ransomware situations, the affected user is “supposedly” able to gain access to their files again after “paying” the ransom. Unfortunately, this isn’t always the case. In fact, there’s no guarantee at all that an attacker will relinquish your files after your initial payment. Therefore, it’s never recommended that victims of ransomware pay the fee. Instead, consult your IT specialists immediately.

How Can I Protect My Business?
There are a few steps you can take to ensure that your business isn’t the victim of RansomCloud. First, make sure that all employees are trained through an anti-phishing technology. A state of the art training program educates and informs employees about cyber threats and what they can do to prevent them. Additionally, you’ll want to install a cloud backup solution (this is in addition to your local/off-site backup solution) which will automatically backup all cloud-based emails.

Protect Your Data
As you can see, ransomware continues to only get more dangerous and sophisticated. Please contact us if you would like to know more on what we can do for your company’s IT security!