Ransomware as a Service 

Ransomware attacks have been increasing in frequency, and it doesn’t seem likely to stop anytime soon, with large companies and high-profile individuals the common targets. 

One of the main reasons for this sudden increase is the change from linear attacks to multi-option, this move absolves the original authors from the crime itself.   

To learn more about Ransomware as a Service, how it works, and how to protect yourself, read on. 

What is Ransomware as a Service

Ransomware as a service is a business model that allows the creators/authors of ransomware to rent/sell their software to customers who are known as Affiliates. It’s a clever variation of the Software as a Service Business model.

In times past, coding was essential to becoming a successful hacker, but now with the introduction of RaaS, this technical ability is no longer a requirement, meaning any green hacker could effectively start a sophisticated ransomware attack without any of the technical know-how. 

RaaS solution authors pay their affiliates a percentage of their profits with reports claiming that some affiliates earn as high as 70% of each ransom payment. This earning potential in addition to the low level of technical know-how required to launch an attack makes RaaS perfect for data proliferation and victimization of companies and Individuals.  

How does the Ransomware as a Service Work?

Ransomware as a Service as earlier mentioned is a business model, but for it to work you need an expertly written/coded ransomware developed by an expert ransomware author/operator. The ransomware has to have a high chance of effecting a successful attack but a low chance of being discovered. 

After it is developed, it is then modified to a multi-end user infrastructure then it is ready to be sold to as many customers as possible. Just like SaaS, the revenue for RaaS is generated when affiliates sign up for a subscription. 

Some RaaS solutions, don’t require monetary commitments, for some affiliates can sign up for a commission. The Ransomware affiliates get support documentation that contains a guide for launching various ransomware attacks. 

In order to recruit affiliates, RaaS put up affiliate Ad openings on some forums on the dark web. Some Ransomware authors are very particular about their own security and only recruit affiliates with great technical skills as they have higher chances of getting more victims and not getting discovered. 

The new affiliate is given a code for their unique ransomware attacks. This unique code is then submitted to the website hosting the RaaS software. 

How RaaS Attacks Work. 

Phishing is a method used to steal sensitive data, which can include passwords, and payment details, through a seemingly innocent source. Most ransomware victims are attacked through phishing.

Phishing emails are very common. Victims receive an email, and when they click on a link, they unknowingly activate the ransomware attack.

The Hacker (Affiliate) presents victims with a very convincing phishing email. When a link is clicked, the victims are directed to the exploit site where the ransomware is secretly downloaded.

During the pandemic, Covid-19 centered phishing emails have flooded many inboxes. These emails are very convincing, especially to a victim with fragile emotions.

Once the ransomware is downloaded, it moves through the system, deactivating firewalls, and antivirus software. After this, the ransomware can start the download of additional components for remote access.

If an endpoint like a desktop, a laptop is discovered, it could serve as a gateway to complete access to the internal network of a business. Once ransomware can achieve this, it can hold even the biggest of businesses hostage.

The ransomware is now free to begin encrypting the victim’s files, making them inaccessible. Since the ransomware operates beneath the authority of the victim, they usually go unnoticed. 

After the attack is successfully completed, then the extortion game begins. A ransom note instructs victims to pay a ransom price in exchange for a decryption key.

Some Hackers, demand a ransom payment and also pressurize victims to make payment before the deadline or have the breached data published on the dark web.

Victims have to download a dark web browser and pay through a preselected payment method usually via cryptocurrency, like Bitcoin, because they are untraceable.

Each ransom payment is sent to a middleman that obliterates the trajectory of the funds so it cannot be traced.

Examples of Ransomware Threats

Some of the most dangerous RaaS include: 

• REvil
• Satan 
• Alpha Locker 
• Encryptor 
• Flux

How to protect from Ransomware Attacks

Here are some suggestions on how to avoid Ransomware attacks; 

1. Identify and fix all vulnerabilities that could expose your business to attacks.
2. Monitor third-party security set up to prevent external exposure.
3. Educate Staff/Yourself on how to identify Phishing Emails. 
4. Regularly back up your data to an isolated network/environment. 
5. Do not click on any suspicious links. Any link from untrusted sources should not be clicked. 
6. Use high-grade Antivirus solutions.