Telecom
Sophos CryptoGuard Technology Reveals How Attackers Increased Their Use of Remote Ransomware by 62% Annually
Sophos, a global leader in innovating and delivering cybersecurity as a service, has released a report, titled “CryptoGuard: An Asymmetric Approach to the Ransomware Battle,” which found that some of the most prolific and active ransomware groups, including Akira, ALPHV/BlackCat, LockBit, Royal, Black Basta, are deliberately switching on remote encryption for their attacks.
In remote encryption attacks, also known as remote ransomware, adversaries leverage a compromised and often underprotected endpoint to encrypt data on other devices connected to the same network.
Sophos CryptoGuard is the anti-ransomware technology that Sophos acquired in 2015* and is included in all Sophos Endpoint licenses. CryptoGuard monitors the malicious encryption of files and provides immediate protection and rollback capabilities, including when the ransomware itself never appears on a protected host.
The unique anti-ransomware technology is a last line of defense in Sophos’ layered endpoint protection, only activating if an adversary triggers it later in the attack chain.
CryptoGuard detected a 62% year-over-year increase in intentional remote encryption attacks since 2022.
“Companies can have thousands of computers connected to their network, and with remote ransomware, all it takes is one underprotected device to compromise the entire network. Attackers know this, so they hunt for that one ‘weak spot’—and most companies have at least one. Remote encryption is going to stay a perennial problem for defenders, and based, on the alerts we’ve seen, the attack method is steadily increasing,” said Mark Loman, vice president, threat research at Sophos, and the co-creator of CryptoGuard.
Since this type of attack involves encrypting files remotely, traditional anti-ransomware protection methods deployed on remote devices don’t “see” the malicious files or their activity, failing to protect them from unauthorized encryption and potential data loss. Sophos CryptoGuard technology, however, takes an innovative approach to stopping remote ransomware, as explained in the Sophos X-Ops article: analyzing the contents of files to see if any data became encrypted to detect ransomware activity on any device in a network, even if there is no malware on the device.
In 2013, CryptoLocker was the first prolific ransomware to utilize remote encryption with asymmetric encryption, also known as public-key cryptography. Since then, adversaries have been able to escalate the use of ransomware, due to ubiquitous, ongoing security gaps at organizations worldwide and the advent of cryptocurrency.
“When we first noticed CryptoLocker taking advantage of remote encryption ten years ago, we foresaw that this tactic was going to become a challenge for defenders. Other solutions focus on detecting malicious binaries or execution. In the case of remote encryption, the malware and execution reside on a different computer (unprotected) than the one having the files encrypted. The only way to stop it is watching the files and protecting them. That’s why we innovated CryptoGuard,” said Loman.
“CryptoGuard does not hunt for ransomware; instead, it zeroes in on the primary targets—the files. It applies mathematical scrutiny to documents, detecting signs of manipulation and encryption. Notably, this autonomous strategy deliberately does not depend on indicators of breach, threat signatures, artificial intelligence, cloud lookups, or prior knowledge to be effective. By focusing on the files, we can change the power balance between the attackers and the defenders. We’re increasing the cost and complexity for the attackers to successfully encrypt data, so that they will abandon their objectives. This is a part of our asymmetric defense approach strategy.
“Remote ransomware is a prominent problem for organizations, and it is contributing to the longevity of ransomware in general. Given that reading data over a network connection is slower than from a local disk, we have seen attackers, like LockBit and Akira, strategically encrypt only a fraction of each file. This approach aims to maximize impact in minimal time, further reducing the window for defenders to notice the attack and respond. Sophos’ approach to anti-ransomware technology stops both remote attacks and those that encrypt just 3% of a file. We’re hoping to inform defenders about this persistent attack method, so they can properly protect devices.”
For more information, read “CryptoGuard: An Asymmetric Approach to the Ransomware Battle” on Sophos.com.
A recent report by the Groupe Special Mobile Association (GSMA) revealed that a significant 71% of Nigerians do not have regular access to mobile internet.
“While 29 per cent of Nigerians are regularly using mobile internet, there remains untapped potential; 71 per cent are not accessing these services regularly. An improved policy environment has the potential to help the industry boost coverage and adoption, resulting in 15 million additional internet users by 2028.
However, the sector faces challenges to infrastructure deployment,” the report stated.
The details of the study were disclosed during the report’s launch in Abuja, highlighting a critical gap in digital connectivity amidst ongoing discussions about possible tariff increases by Nigerian telecom operators.
The telecom industry is currently advocating for an increase in tariffs to counter various operational challenges. However, the government is pushing for alternative solutions rather than price hikes.
The GSMA report underscored the challenges hindering the expansion of telecom coverage, which include cumbersome and costly rights-of-way acquisition processes and a complex tax environment. These factors collectively make it difficult for the industry to sustain investment levels.
Despite these hurdles, the report optimistically noted that Nigeria could add 15 million internet users by 2028 with appropriate policy adjustments. It emphasized that achieving universal access to digital connectivity hinges on a wider digital transformation of the Nigerian economy.
The report details the sector’s challenges, stating that “An improved policy environment has the potential to help the industry boost coverage and adoption, resulting in 15 million additional internet users by 2028. However, the sector faces challenges to infrastructure deployment.”
The report also identified key obstacles, such as the rigorous process of securing rights of way and a layered tax regime, which together increase operational costs and stymie sustainable investments. Added financial pressures from rising fuel prices and increased governmental fees further strain telecom operators’ ability to maintain healthy investment flows.
The GSMA report recommended several policy measures to foster a more enabling economic and regulatory environment for the mobile industry.
These include establishing a legal framework to protect critical national infrastructure, simplifying rights-of-way issuance, reducing the tax burden, and cultivating a regulatory climate conducive to robust investment.
“Future policies should be geared towards reducing the cost and complexity of infrastructure rollout to encourage investment and boost the adoption of mobile broadband,” the report advised.
It further highlighted the far-reaching implications of such policy enhancements, noting, “The impact of such actions would go far beyond mobile, driving productivity gains across the economy and creating millions of new jobs in Nigeria.”
MTN Group (MTNJ.J), Africa’s biggest telecoms operator, reported on Tuesday an 18.8 per cent fall in first-quarter service revenue, weighed down by the performance of MTN Nigeria
MTN, with 288 million subscribers in 18 markets across Africa, said its reported group service revenue fell to 42.9 billion rand ($2.34 billion) in the quarter ended March 31, from 52.8 billion rand in the same quarter last year.
In constant currency, service revenue, which excludes device and SIM card revenue, rose by 11.1%.
MTN’s service revenue from South Africa surpassed that of Nigeria, its biggest market by revenue, growing marginally by 3% to 10.4 billion rand, while Nigeria tumbled by 52.8% to 10.2 billion rand.
“The macro environment in the first quarter of 2024 remained challenging with ongoing high inflation as well as local currency devaluations in some of our key markets,” Ralph Mupita, group president and CEO said in a statement.
Mupita also cited global geopolitical tensions as a factor impacting the operator’s performance, including the ongoing civil war in Sudan, which severely affected network availability and revenue generation in that business.
MTN was also impacted by subsea cable cuts that resulted in downtime.
Overall reported group earnings before interest, tax, depreciation and amortization (EBITDA) fell by 28.7% to 17.2 billion rand and rose by 3.9% in constant currency.
Reported EBITDA margin declined by 5.8 percentage points to 37.9% due to rising costs and currency depreciation mainly in Nigeria.
The group revised down its anticipated capital expenditure (excluding leases) deployment for 2024 to about 28 billion rand to 33 billion rand from a target of 35 billion rand to 39 billion rand, largely due to a reduction in expected spending by MTN Nigeria.
Telecommunications network, Airtel Nigeria has introduced a groundbreaking new service for business owners called the Enterprise Business Broadband (EBB) Speed Based Plans 3.0. This specially designed plan offers unparalleled connectivity and flexibility with unlimited monthly plans.
Tailored to meet the diverse needs of enterprises, the new EBB plans feature unlimited internet connectivity options, providing the opportunity to without data limitations. Customers also get a chance to select from three dynamic options, from as low as N20, 000 to N60, 000.
The N20, 000 monthly subscription delivers internet speeds of up to 20Mbps, the N35, 000 subscription offers up to 40 Mbps, and, with the N50, 000 monthly subscription users can experience ultimate reliability and speeds of up to 60Mbps, which is perfect for large organizations with high bandwidth requirements.
Speaking on the new unlimited plan, Chief Commercial Officer, Airtel Nigeria, Femi Oshinlaja emphasized the transformative impact of the new unlimited plan.
“We have seen the early adopters of the Speed Based Plans 3.0 express their satisfaction after using this service and we are confident to say that the uninterrupted internet service is a game-changer for business owners.
“We are committed to continuously providing innovative solutions that empower businesses to thrive in the digital landscape, ensuring unparalleled connectivity and reliability for our valued customers,” he said.
According to Airtel, customers get a complimentary router upon purchase. The speed plan also allows customers to have the flexibility to set data usage limits and control access to specific websites on the router, promoting responsible internet usage.
Court Grants Final Forfeiture of Property Recovered from Telecom Experts’
FCCPC Barks as Loan Apps Continue to Harass Customers
Report Says 71 Percent of Nigerians Don’t Have Access to Regular Internet
MTN Group Weighs Down by Nigerian Operations
Airtel Excites Business Owners with Unlimited Speed Plan
Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC
6 Ways Gemini can support your job Search in the Nigerian job Market
AMN Activates Starlink Cellular Backhaul Connectivity in Nigeria
FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions
60 Hearty Cheers to Chioma Ekeh, Africa’s Leading Unusual Female Tech
Telecom2 days agoGlo to Unveil Innovation Hubs to Drive Digitalization – Bella Disu
Telecom2 days agoGlobal Tech OEMS Partner Konga Group for Tech Month with Huge Discount
News2 days agoClean Technology Hub, FCT Launch Climate and Change Youth Movement in Abuja Secondary Schools
E-Business2 days agoNIMC Uncovers Syndicate Issuing Fake NINs to Nigerians
Telecom2 days agoFG to Prioritise Satellite Technology for National Development– Keyamo
News2 days agoDr Aina Tasks FinTechs on Corporate Governance
E-Business2 days agoRising above the Noise: Differentiating Your Brand for Success
Broadcasting1 day agoSLTV Breaks Pay TV Monopoly, Offers Affordable Alternatives to Nigerians