Our experts at Gen observed a 100% increase of ransomware activity quarter over quarter.
You might have heard of ransomware before—maybe even seen stories of people or businesses getting locked out of their own files unless they pay up. Well, brace yourself because ransomware attacks kept their momentum going from Q2 to Q3/2024, doubling the attacks compared to the previous quarter. That’s right, they’ve become even more common.
One variant, Magniber, had a surprising increase in activity. This sudden surge is a wake-up call, emphasizing how necessary it’s to understand what’s going on. There are things you can do and tools you can use to help you stay safe online.
Let’s dive into the findings of the Gen Q3/2024 Threat Report so you can stay informed and take steps to help protect yourself.
A quick recap—Ransomware is?
Ransomware is a type of malware designed to lock you out of your own files. Here’s how it usually works: you click on a link or download a file (often disguised as a helpful update), and kaboom! Your files—everything from photos and documents to work files—are encrypted.
Suddenly, a ransom note appears, demanding payment to unlock your data. The ransom is often paid in cryptocurrency to make tracing the payment harder, and there’s no guarantee that paying up will even get your files back. Not only that, but it may also incentivize further criminal activity.
The Magniber ransomware boom
So, what’s the deal with Magniber? This ransomware variant has been around for a while, acting like a seasoned chameleon, finding new ways to spread and new targets to hit.
Magniber attacks were especially fierce in August 2024, when the number of blocked URLs associated with ransomware jumped from just a few hundred to nearly 8,000 per day. Why such a spike? The answer lies in a campaign known as AliGater, which spreads Magniber via malvertising, tricking users into downloading malware disguised as fake updates or software tools.
For the unlucky ones who clicked, the result was a locked computer and a ransom note demanding cash. As of now, there’s no Magniber decryptor available. The best bet against this variant would be to protect yourself with security software to prevent any attack.
Ransomware loves outdated systems
One thing that makes Magniber particularly effective is that it often targets outdated systems like Windows 7. Even though Microsoft stopped supporting Windows 7 in 2020, it still has a small but significant user base—roughly 4% of computers worldwide. Outdated systems don’t get security patches, which leaves them vulnerable. So, if you’re still rocking Windows 7 or another old OS, it’s like leaving a window wide open for hackers.
4 tips to help protect against the ransomware surge
With ransomware on the rise, here are a few simple but powerful tips to help you stay one step ahead:
- Update your software regularly. Outdated software is a cybercriminal’s best friend. Keep your operating system and all apps up to date to reduce your risk.
- Back up your files. Whether it’s to an external drive or a secure cloud service, make a habit of backing up your important files. If ransomware hits, you’ll have a clean copy ready to go.
- Think before you click. Malvertising campaigns rely on people clicking suspicious links or “update” prompts. If you’re unsure, don’t click.
- Use strong security software. A reliable security suite can block ransomware before it has a chance to do damage. Avast One, for example, actively scans for suspicious activity and blocks dangerous links.
Good news—Free decryption tool for Mallox
While Magniber has wreaked havoc, there’s a silver lining for victims of another ransomware strain, Mallox. Gen researchers recently found a way to decrypt files hit by specific Mallox variants—meaning you can recover your data without a hitch!
If your encrypted files end in extensions like .bitenc, .ma1x0, or .mallab, you’re in luck—Avast’s free decryptor might help you get your files back. Check it out here.
Stay aware, stay safe
With ransomware attacks doubling in a matter of months, now’s the time to up your security game. Knowing the risks and taking simple precautions can go a long way. Ransomware may be on the rise, but you don’t have to be its next victim. Stay safe!
