New Research Reveals Impact of Ransomware Attacks on IT and Construction Sectors
In a recent report by Ontinue’s Advanced Threat Operations (ATO) team, new research has exposed the significant impact of ransomware attacks on the IT and construction sectors in 2023. Out of nearly half of all incidents, these industries bore the brunt of the attacks.
The report, which drew data from the analysis of 600,000 endpoints, highlighted the emergence of ransomware as a serious challenge for organizations across various industries. The IT and construction sectors were particularly vulnerable due to their large attack surfaces and potentially profitable nature of operations.
LockBit emerged as the most active ransomware group, known for their tactic of threatening to leak stolen data if ransom demands are not met. Additionally, the 8Base ransomware group targeted small- and medium-sized businesses, showcasing the widespread impact of ransomware.
Aside from ransomware, the report also highlighted the growing threat of QR phishing, also known as “Quishing,” which targets organizations across different sectors. This method, known for its simplicity and effectiveness in bypassing traditional security measures, poses a significant challenge for cybersecurity professionals.
Looking ahead, the report warned of continued challenges in 2024, including the exploitation of artificial intelligence (AI), IoT vulnerabilities, and evolving ransomware tactics. The rise of hacktivism and the increase in hack-for-hire services further emphasize the need for proactive cybersecurity measures in the face of evolving cyber threats.
