Attacks against industry sectors, including aerospace, also appear to be on the rise. The Colonial Pipeline Houston Station facility stands in Pasadena, Texas taken on May 10, 2021. "We need to strengthen the system by properly funding system to develop their own inherent capabilities and expertise if a situation like this arises again," he explained. A few simple but critical steps can go a long way to protect against this category of malicious cyber activity, and our two departments are committed to working together with businesses and their CEOs. We can no longer look the other way and we cannot treat ransomware as simply a nuisance. That is why the Departments of Homeland Security and Commerce are working together to help businesses both prevent and respond to ransomware attacks. Many American companies have not kept pace with the security threat, they say. Ransomware target big and small businesses alike. All Rights Reserved. confirmed on Monday that the hacking group DarkSide was responsible for the ransomware attack that closed a U.S. pipeline providing the … ... 2021 in Woodbridge, New Jersey. ... 2021 … "The challenge in cyber is that the threats and the technology are advancing substantially. ", 24/7 coverage of breaking news and live events. Bitcoin and other cryptocurrencies have given them that opportunity.". We need to do more. The Biden-Harris Administration is coordinating a whole-of-government strategy. And when these businesses do become targets, it can have devastating and permanent impacts, forcing some to close their doors permanently. CISA recently launched its "Reduce the Risk of Ransomware Campaign" with free, public guidance and resources to help organizations prepare for these attacks and evaluate the strength of their company's cyber posture. A Colonial Pipeline Co. storage tank stands at a facility in the Port of Baltimore in Baltimore, May 11, 2021. CISA's website also points to the practical guidance offered by Department of Commerce's National Institute of Standards and Technology (NIST), leveraging its deep economic and technical expertise. A recent report from the Ransomware Task Force, a group of 60 cybersecurity experts from industry and government, sheds light on both the alarming increase in the frequency of these attacks and the ransom size they demanded. Babuk Locker is a new ransomware operation that launched at the beginning of 2021 and has since amassed a small list of victims from around the … The Coveware Quarterly Ransomware Report describes ransomware incident response trends during Q1 of 2021. The Biden-Harris Administration is coordinating a whole-of-government strategy to increase resilience, disrupt, and investigate ransomware networks, and hold perpetrators accountable. Mark Kauzlarich | Bloomberg | Getty Images. 1- REvil Ransomware. Jim Langevin, a Rhode Island Democrat and founding member of U.S. Cyberspace Solarium Commission, told ABC News that proper funding is needed in order to further secure the nation from cyberattacks. Ransomware – like most cyber-attacks – exploits the weakest link. In this post, we take a look at the malware and the criminal gang, who many believe are based in Eastern Europe, behind the Colonial Pipeline attack. Neumann said the impact of future cyberattacks could be much more severe, particularly if a foreign adversary is involved. We're not ready. These public-private partnerships will continue to protect our businesses, our economy, and our national security. One of the largest U.S. fuel pipelines remained largely paralyzed Monday after a ransomware … Businesses may also lose access to their proprietary information, including intellectual property and client and employee data, in addition to suffering reputational costs. Michael Gonzalez, … The FBI said Monday that ransomware from DarkSide, a criminal organization that operates in Eastern Europe, was responsible for the Colonial Pipeline network attack. The company and the U.S. government continue to investigate the extent of the impact. The Colonial Pipeline launched the restart of its operations Wednesday evening following a six-day shutdown caused by a ransomware attack, but the pipeline's operators warned it … Ransomware attacks in 2020 were estimated to have cost billions of dollars. A senior threat analyst at the cybersecurity firm Recorded Future told the AP that the attack may have used a ransomware group called "DarkSide." "It was inevitable that we would reach a point where one of these attacks would have significant economic damage," Dmitri Alperovitch, the executive chairman at Silverado Policy Accelerator and a former CTO of CrowdStrike, said. The Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA) is well-positioned to help organizations take preventive measures to increase resilience before an attack occurs. "We have seen a huge explosion in ransomware cases in the last 10 years and really coincides with the development of cryptocurrency," he explained. Data exfiltration extortion continues to be prevalent and we have reached an … The operator, Colonial Pipeline, said it had halted systems for its 5,500 miles of pipeline after being hit by a ransomware attack. This latest attack should serve as a clarion call for organizations across the country to shore up their cyber defenses and get ahead of future threats. https://www.cnn.com/2021/05/10/politics/colonial-ransomware-attack-explainer According to a 2021 report, the greatest number of victims in 2020 by industry were in manufacturing, professional and legal services, and construction. Storage tanks at a Colonial Pipeline Inc. facility in Avenel, New Jersey, on Wednesday, May 12, 2021. While federal officials were still trying to determine whether a foreign nation could be involved, Russian intelligence has been known to cooperate with Eastern European cybercriminals in the past. Protecting the American people and companies against ransomware must be one of our top priorities as a nation. Small businesses are particularly vulnerable because many of them are financially fragile and do not have the necessary resources to install cybersecurity software, ensure constant technology monitoring, provide employee training, and hire full-time information technology experts. Acting CISA Director Brandon Wales laid out the agency's shortfalls before Congress this week, saying they boil down to funding and the not keeping pace with fast-evolving technology. By the time you're dealing with an attack, it's too late for proactive measures. In 2020, it estimates $350 million in ransom was paid to attackers – a more than 300 percent increase over the previous year – with an average payment of over $300,000. Protecting the American people and companies against ransomware must be one of our top priorities as a nation. Ransomware attack on pipeline pushes up U.S. gas prices to nearly $3 a gallon By Kate Gibson Updated on: May 10, 2021 / 7:00 PM / MoneyWatch Hacker group behind Colonial Pipeline attack claims it has three new victims Published Wed, May 12 2021 3:41 PM EDT Updated Wed, May 12 2021 6:59 PM EDT Eamon Javers @EamonJavers The demands of meeting pernicious ransomware attacks require nothing less. Gas crunch 2021: Colonial Pipeline up and running after ransomware attack. Such offers vary from US$300 to US$5000. While not a new threat or method, experts expect ransomware-as-a-service (RaaS) to become more widely used in 2021. That's what's going to get us to stronger cybersecurity. And for the first time in seven years, the national gas price average reached $3 a gallon. Alejandro N. Mayorkas is the U.S. Secretary of Homeland Security and Gina M. Raimondo is the U.S. Secretary of Commerce. This latest attack should serve as a clarion call for organizations across the country to shore up their cyber defenses and get ahead of future threats. "Many of these ransom operations are more about extortion than ransomware where they will steal data -- typically emails -- and threaten their release and try to embarrass companies and hopefully find -- from their perspective -- find something that these companies will really want to keep quiet, whether it's intellectual property or information on customers," Alperovitch said, "and that would increase the likelihood of actually getting ransom.". They gained control of … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We need to step up our game.". The National Cyber Investigative Joint Task Force has also provided a guide on how to respond after a ransomware attack has occurred. Our Departments will continue to advocate for a comprehensive approach to tackling ransomware to keep our communities safe. Are ransomware attacks a new problem? Theoretically, it could be more effective against the kind of criminal ransomware attack that took over Colonial Pipeline’s headquarters networks last week. On Saturday, the company issued an update saying it had "determined that this incident involves ransomware." A Division of NBCUniversal. That is why the Departments of Homeland Security and Commerce are working together to help businesses both prevent and respond to ransomware attacks. The Colonial Pipeline ransomware attack is just the latest in the past year of cyberattacks that have had detrimental impacts to the United States. Police and sheriffs' offices, schools, and local governments, from Atlanta to Baltimore to Fisher County, Texas, have suffered a similar fate. Healthcare, manufacturing, and education businesses experienced significant increases. Attacks in March 2021 Be on the lookout as ransomware targets schools - Salt Lake City, Utah, United States MIDC's IT infra faces ransomware attack - Mumbai, Maharashtra, India Staff unable to access patient files after Eastern Health cyber attack - Victoria, Australia ", "We need far better technical controls. "Before we had cryptocurrency there was really no way that these criminal groups could get ransoms in a pseudo-anonymous way that wouldn't be tracked back to them. In late April the Washington, D.C., Metropolitan Police Department admitted it … Honest businesses also commonly use the as-a … A major U.S. fuel pipeline system has been shut down following a ransomware attack.The pipeline system, owned and operated by the Colonial Pipeline … 05.08.2021 05:33 PM The Colonial Pipeline Hack Is a New Extreme for Ransomware An attack has crippled the company’s operations—and cut off … Monday morning, Pacific time, the FBI confirmed that the ransomware culprit is DarkSide, a fairly new strain that started making a name roughly in mid- to late-2020. He said public and private partnerships are needed. Experts say ransomware attacks, in particular, have been on the rise because of how easily they can be deployed, carried out by actors ranging from enemy nations to criminal gangs. The Colonial Pipeline ransomware incident highlights the huge fallout cyberattacks can have on the country's critical infrastructure and raises new questions about why the U.S. is so vulnerable to such crippling strikes. A lot of it is decades old … because they are so underfunded, they tend to not update their IT very often.”. "It is absolutely a road map for enemies and adversaries to potentially carry out a devastating blow against our critical infrastructure and really damage not only our economy, but lead to injury or potentially loss of life," he explained. The recent ransomware attack on Colonial Pipeline was an all too familiar story to businesses across the United States. REvil is a file encryption virus that encrypts all the files and demands money … Sign up for free newsletters and get more CNBC delivered to your inbox. ABC News’ Pierre Thomas discusses Colonial Pipeline’s ransom payment after it was hacked and what the government is doing about these crimes. We need a much better integration operationally between security vendors, companies and the United States government, and we're going to need to be careful," he said. "We need better technical solutions on that as a group or part of a group of people trying to develop innovative solutions for better technology to prevent attacks, but there's got to be a government role in stopping the human beings that are doing the attacking," Bossert explained. In short, organizations in every sector and of every size need to take this threat seriously and take steps today to protect themselves. "We are not prepared. Former Assistant Secretary for Homeland Security Elizabeth Neumann, an ABC News contributor, said companies and governments need to keep pace with the growing security threat. The technology that we deployed 15 years ago, needs substantial modernization to ensure that it keeps pace with the threats that we're now facing. 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