Acronis’ cyberthreat report warns that global ransomware damage will exceed US$30bn by 2023

Swiss-based cybersecurity company Acronis reports that the first six months of 2022 involved stolen credentials. With hacking methods like targeting unpatched and software vulnerabilities, and malicious email campaigns, ransomware is worsening. It is excepted that global ransomware will exceed US$30bn by 2023.
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The Switzerland-based cybersecurity company Acronis reported in its mid-year cyberthreat report that almost half of the breaches in the first six months of 2022 involved stolen credentials. The primary goal of cybercriminals using these credentials is to launch ransomware attacks, which remain the number one threat to large and medium-sized businesses, including government organisations, the report states.

Acronis found that out of 600 malicious email campaigns in the first half of 2022, 58% were phishing attempts and 28% featured malware. Unpatched and software vulnerabilities are now also being targeted by cybercriminals in order to extract data, with a recent increase in Linux operating systems, and managed service providers (MSPs) and their network of SMB customers.

The Swiss firm highlighted that ‘ransomware is worsening, even more so than we predicted’. They also mentioned Conti and Lapsus gangs as the prime targets for international security services. It is expected that global ransomware damage will exceed US$30bn by next year.