The note demands for ransomware in the form of the popular cryptocurrency, Bitcoin.
Bitcoin is the preferred mode of payment because it is safer for cybercriminals as it is hard
to track down the transactions in its network. Many ransom notes also include a guide for
payment; like how to register a cryptocurrency account online and successfully send it to a
remote account.
The ransom demand can begin from $50 to $1000 on average. In extreme cases, it has
known to go as high as $50,000. The ransom demand is determined by the hackers after deter-
mining the quality of the hacked data. For instance, if they get hold of the login credentials or
customer information of a large-scale organization, then they will definitely try to raise the
ransom demand.
Despite, the payment of ransom, many cybercriminals renege on their promises and refuse
to remove the ransomware.
Ransomware Attacks in IoT
Since 2015, the ransomware threat has grown at an increasingly quick rate. Here is how it has
aected the IoT devices around the world.
Hacking Public Cameras
WannaCry is one of the most notorious ransomware out there. In May 2017, it staged one of the
largest global cyberattack as it managed to infect more than 200,000 systems in 150 countries.
One of its victims was the state of Victoria (Australia).
The ransomware compromised the state’s IoT ecosystem by infecting speed and intersec-
tion cameras. Around 55 state cameras which were used to monitor and track vehicles and with
enforcement service Redflex, got hit by the ransomware. All of this happened when a virus-
filled USB somehow got connected to one of its cameras. From there, it managed to spread
quickly to the other IoT devices.
After some initial investigation, it was concluded that the vulnerability was caused by
human error. Therefore, the incident caused discussions among experts about the greater need
for cybersecurity protection for an IoT ecosystem especially considering how easily and quickly
it spread from a single IoT device.
Hotel
Austrian hotel Romantik Seehotel Jäger has served guests and tourists for more than
100years. However, when the hotel was busy during the peak winter ski season, hackers
bypassed the IoT components of the hotel’s IT system and put forward a ransom demand
of $1,603. In return, they promised to give back the electronics keys through which guests
could unlock their rooms along with the reservations data which got encrypted as well
during the cyberattack.
In the pre-attack time period, the hotel was closed. As a consequence, there was no backup
data through which the ransomware’s threat could have been negated. When the ransomware
locked down their systems, the sta was unable to check reservations and other important
documents.
Since, the hotel was completely booked, hence the hotel management was battling severe
pressure for restoring the operations of the business. Unfortunately, local law enforcement
agencies could not come up with a viable solution. Consequently, they had to pay the $1,603
ransom after which the hackers restored access to the hotel.
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