Ransomware-as-a-Service – Emerging Cybersecurity Threat

Currently pursuing university studies, Mason Bird is working toward a degree in cyber security. Mason Bird has a strong interest in the fast-evolving nature of online threats to security, which impact everything from banking to the industrial-military complex. As identified in a recent research report by an IT security firm, Ransomware-as-a-Service (RaaS) has emerged as a potent threat that is led by the advanced Cerber infrastructure.

Infecting approximately 150,000 users globally each month, Cerber spearheads eight new campaigns on a daily basis. These enable cybercriminals to employ data-encrypting malware that requires a significant payment before encrypted files are freed up. The money from payments is not easy to trace, as it occurs through bitcoin currency and specialized bitcoin wallets. These provide a mixing service that makes transactions very difficult to identify individually.

This IT security firm has identified the threat as originating from the block of former Soviet states and has published a no-cost Cerber decryption tool that enables encrypted files to be freed up without RaaS payment.

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