The use of distributed denial of service (DDoS) attacks to extort money from organizations is on the rise, warns security firm Kaspersky Lab.
Hmmm….and that’s pretty serious!
Motivated by monetary gain, hackers inject ransomware into companies’ servers with an aim to slow down or disable sites and servers by flooding them with false traffic.
The $1 million ransom payment paid by South Korean web hosting company Nayana has sparked new extortion attempts on South Korean companies.
The above news is really scary. With the value of bitcoin increasing in recent weeks, victims are exploited with their own data in exchange for payment in Bitcoin.
So let us understand What exactly is DDoS?
Technically, a DDoS attack is a type of cyber attack that uses a large number of systems maliciously attacking the victim company’s server, often through a botnet, where many devices are programmed to request a service at exactly the same time resulting in server overload and unavailability of services.
Simply put, it’s like a mob or fake crowd blocking the storefront so that genuine customer cannot reach to the store to buy product and services, resulting in the financial loss to the merchants.
The unavailability of service not only costs a large amount of time and money but also damages the company’s reputation which could have a far more severe effect in the long run. Especially for companies that operate online services will suffer if their server is targeted and breached.
They can lose potential and existing customers when people are unable to access a site to browse or make a purchase and may also decide to switch to an alternative provider. There is nothing more frustrating to a customer or client who is unable to access the website of a company, bank or retailer. Isn’t it??
Common symptoms of the DDoS Attack-
- Unusually slow network performance (opening files or accessing websites)
- Unavailability of a particular website
- Inability to access own website
- A dramatic increase in the number of spam emails received
The DDoS attacks are increasing day by day with no clear correlation between victims, it seems literally any business could be the next target. While there is no quick fix solution available to help organizations protect against an attack of this nature, seeking the help of a partner with extensive DDoS and attack mitigation expertise can help businesses detect security threats and minimize the collateral damage.