In this technical White Paper, we break down the newest option in a ransomware protection and response strategy. Nubeva's Ransomware Reversal technology gives victims of an attack the power to decrypt ransomed files and recover systems without paying a ransom, regardless of the availability of backups.
Ransomware is an ever-growing threat to thousands of organizations and businesses worldwide. The US has been experiencing 4000+attacks every day for several years, and the damages are growing exponentially. In 2015, it is reported that ransomware attacks caused$325 million in damages, and that amount increased to $5 billion by 2017 and $20 billion in 2021.
The threat shows no mercy, targeting businesses, organizations, and governments of all sizes. The median ransom in 2021 averaged $170K and the rise of mega-ransoms hit an all-time high at $40million.
The big cost to companies and businesses comes during the recovery phase of ransomware attacks. As reported by Forbes, the current average cost to recover from a ransomware attack is $2 million, making the cost 10X the price of the ransom itself. While it is encouraged never to pay the ransom, upwards of 70% of victims end up paying the criminals with the hopes of recovering.