Barracuda Networks leads battle against new ransomware campaign
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Barracuda Networks leads battle against new ransomware campaign

Barracuda Networks is leading the charge against cybercrime. The company reported that it has detected “roughly 20 million” new ransomware attacks sent via emails since last Tuesday. The emails form a single, powerful, campaign that generates fake email addresses which mimic those of the targets’ organisations – such as a workplace or charity. According to Fleming Shi, Barracuda’s senior vice president of advanced technology engineering “this makes it a little more likely people will click on it.”

Barracuda Networks’ share price had an incredible 5 days last week

barracuda graphs 040917 

Source: Yahoo Finance

Ransomware is a type of malware – cybercrime attacks carried out through viruses that infect users’ machines. These attacks encrypt users’ personal data, whereupon the attacker literally ‘ransoms’ it back: if you want to access your stuff again, you have to send money to the hacker digitally, and he will send you an encryption key that can unlock your computer. Currently, ransomware is big news, as the two huge cybercrimes from earlier this year both used the model.

As of last Friday, Barracuda says that the volume of emails sent out has diminished – but the campaign was still ongoing. What should you do if you’re targeted? “We advise against making payments to ransomware criminals, ”Barracuda advised in a blog post “because this doesn’t guarantee the decryption of your files and it encourages them to target you again in the future.”

Dominion holds Barracuda Networks in its Global Trends Ecommerce Fund. 

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