CryptoWall has landed in Singapore

Somewhere last year, we’ve sent in an alert on a cyber-crime activity that is very popular in the USA. We are prepared for it to come but it has only started to hit SEA, AU and NZ hard recently.

A highly organized cyber-criminal gang has created a ransomware named CryptoLocker and dispersed it to the internet world. All files in computer will be encrypted with a very strong method with the use of private infrastructure; only the hacker can unlock the data files.

Reports are out that ransom paid are somewhere from USD 500 – USD 300,000.  FBI with the help of giant technology companies and law enforcement agencies in several countries successfully capture this group and confiscate their infrastructure which was residing in Kiev & Donetsk, Ukraine. However, it was not long before the cousin CryptoWall was born and new variants are now out on daily basis. This can be from a malicious website, email attachment, freeware, pirated software or even from other malware sitting in the computer.

As of now, there is only prevention and no other way to decrypt.  The two available options that are either to pay the ransom (which does not guarantee full recovery) or reinstall the Operating System leaving all the data behind. If you are currently under a network sharing, this disaster might reach to you; attacking your network and causing all data being affected.

It amazes me. The world has became so close. Data can reach anywhere in the world through the Internet in minutes but this CryptoWall reaches us much much much later. Althought It gave us the buffer of time, often times this is overlooked.

The only option then would be to pay ransom (or pay multiple ransoms for some) or let it all go. As a precaution, we suggest you to implement layers of protection to prevent this ransomware from hitting your company network. We also urge you to do hourly or at least daily backup so that in case of your data loss, it won’t be so overwhelmingly devastating. With a proper backup in place, you can recover your data within a day or two..

Put yourself in the shoe of affected companies where they had to make a critical decision whether to pay ransom or redo all their work (if it is possible). Either one has a big impact in monetary, productivity and morale.

If you do not have the IT expertise in this area, do not waste time further. Outsource it to us. Get in touch about our ExertChange programs and experience how managing your IT proactively could save you time & money definitely. Please do not ignore this warning as the threat is real and we all have to be aware of it and be prepared for it. The threat might reach you and by then, it would be too late if you have not protected your data. Prevention is way better than cure. The cure is the price your company willing to pay.