Read at ReadWrite
According to a report from Chainanalysis, ransomware hackers extorted $1bn in 2023, a $433 million increase from the previous year. The report highlights the growing trend of malicious hacking and its impact on entities worldwide. The biggest ransomware attack of 2023 was carried out by the CL0P Ransomware Gang, exploiting a 'Zero-Day' vulnerability that compromised multiple institutions simultaneously.
The report details a staggering increase of $433 million in ransom taken from victims compared to 2022, growing to the highest-ever rate of $1bn in 2023.
The Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) released a Cybersecurity Advisory (CSA) in June of last year, pointing out the MOVEit vulnerability and the attack carried out by the CL0P Ransomware Gang. This attack was one of the biggest reported ransomware attacks of 2023 and was linked to the 'Zero-Day' exploits. The MOVEit hack targeted multiple institutions and exposed sensitive data, including personal and banking information, to the hackers.
The MOVEit hack was like finding all the keys to multiple company lockboxes in one big digital bank vault.