The History of Ransomware: From Malware-Ridden Floppy Disks to "Trusted" Cyber Gang Tycoons

Chief Security Officer Phil Richards rejoins Chris Goettl, Head of Endpoint Security Product Management, for a history lesson of ransomware attacks: starting with its origins on malware-riddled floppy disks and ending with predictions of where ransomware gangs will go after several recent -- and highly publicized -- ransoms. Today's talk covers:The start of ransomware as malware hidden in floppy disks containing AIDS education materials that required victim users to mail paper checks as ransom to PanamaThe recent explosion in value of ransomware extortions from a few thousand USD and four days down time... to $4.1 million USD ransoms of the Colonial Pipeline and weeks or months of time to restoration.Why the ransomware business model requires users to trust the criminal actors (as odd as that seems!)How ransomware gangs are expected to adapt to modern cybersecurity defenses, requiring security teams to implement multiple tactics to prevent successful ransom attempts and interruption to business operations Next episode going live June 29, 2023!New episodes publish around the second and fourth Thursdays each month. For all show notes, resources and references, head to Ivanti.com/SecurityInsights Join the conversation online on LinkedIn (linkedin.com/company/Ivanti)