The COVID-19 pandemic increased online activities and learning models across the globe. This intensified criminal hacking activities, leaving universities vulnerable and defenseless. Unfortunately, university systems are susceptible and weak to bear powerful hacking strikes. Such cyberattacks lead to bad ransomware, impacting universities monetarily and economically. However, providers like Spectrum are taking an initiative to prevent online attacks and are giving antivirus software with their services. So, if you are looking at Spectrum internet prices, knowthat you will also be receiving antivirus software.
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Understanding Ransomware
Ransom means holding something in possession to extort money and benefits. But what is ransomware? Well, it is malevolent software used by cybercriminals. It allows the chiselers to take information as a hostage instead of a person. This is a highly encrypted software that targets the data, making it indecipherable. Only the hackers have a “key” to decode the information held hostage.
Once the system is hacked, the attackers demand a large sum of money to be paid as a ransom. Sometimes these hackers provide the key to decode information after receiving the money. While other times they don’t! Since the whole transaction is illegal, therefore, no legal work can be done. The majority of the hackers nowadays take ransom in cryptocurrency, making it challenging to be tracked. This results in loss of information or worse, leak of private data. Some of the hackers after receiving the ransom release the data worldwide, leaving the victim empty-handed.
Types of Ransomware for Universities
There are three types of ransomware that attack the servers and systems of a university or educational institute. Let’s have a look at them.
#1. Encrypting Ransomware
It’s one of the most complex and distressing types of ransomware. Through encrypting ransomware, the cybercriminals gain access to the university system. They seize the files, encrypt them, and later demand a hefty amount to decrypt the information.
#2. Scareware
It’s typically a rogue security software of a tech-support fraud. The university receives a pop-up message on their screen, claiming malware detection in the system. To remove the message, universities are asked to pay for the security software.
#3. Screen Lockers
When this ransomware is deployed in a university server, every staff member and student gets locked out of the computer screen. After initiating a reboot, instead of normal operations, the screen displays a demanding ransom payment. This prohibits universities to use their systems before paying the ransom.
Result of Ransomware Attacks
The impact of such ransomware attacks is devastating by every means. It leaves you stressed, anxious, and jittery until the attack is resolved. A while back, West Coast University faced a threatening ransomware attack. The hackers hacked the institute’s medicine’s research department, resulting in a security breach of valuable pieces of research. Since the matter was of urgency and the university couldn’t afford the loss of research, they decided to pay a hefty amount of $1.14 million in ransom. They were lucky that the cyber attackers provided them with the key to decrypt the researches instead of leaking it publicly.
Recently, a top-notch institute in England also suffered from an exhausting ransomware incident. The attack forced the institute to delay the start of next semester as all the IT systems were compromised. They suffered from not only monetary loss but also had to undergo immense pressure of disrupting the flow of education.
Since there is no guarantee of data recovery, the FBI and other security institutes are against paying ransom to these attackers. They believe paying to them results in encouragement for them. But in despair, many educational institutes to date go against the wish of the FBI and prefer paying the ransom.
Why Is Ransomware a Threat to Universities?
Modern scammers have recognized the weakness and vulnerability of the universities. Since educational institutes have private personal information of each student and staff member, hackers take advantage of their weak points.
When ransomware attacks any university, the threat is not just loss of finance and money. The biggest threat is the leak of information and compromised details shared worldwide. The attack already threatens their image. But the leak of private information can destroy the institutional image forever.
Conclusion
Aggressive ransomware attacks are rare but threatening. The institutes need to take necessary precautions to safeguard the data and personal information of their staff and students. They need to realize the capacity and effects of these attacks on their brand image. Make sure you are not the next victim. Therefore, you should prioritize your system security at all costs!