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The Future of E-Commerce Under the Threat of Ransomware

May 6, 2019Simeon Georgiev

If you are someone who runs an e-commerce business, then this article is a must-read for you because today we are here to tell you about a threat that can literally destroy your business and you might have to pay a ransom. That threat is none other than a “ransomware variant”. Yes, there’s absolutely no doubt in the fact that the internet has made our lives easier, but on the other hand, there’s another fact that there’s this dark side to the internet where all the hijackers and scammers reside. These people infect your computers and servers with viruses. They get you locked out and then they ask for a ransom in return for the access to your own systems.

Believe it or not, these ransomware attacks are growing at a rapid pace and its high time for organizations and even individuals to take some serious precautionary safety measures before the situation gets worse. Speaking of ransomware, especially the e-commerce businesses are suffering at the moment and literally thousands of attacks have been reported till date.

What Happens in a Ransomware Attack?

For those who don’t know, in a ransomware attack what happens is that the victim gets an email that’s attached with malware and as soon as the victim opens up that email, the infection spreads and the malware software takes over the computer. After that, the victim is locked out and he cannot access his computer or the important files and data in it until he/she pays the ransom that has been demanded. The ransom is usually asked in the form of Bitcoins so that the hijackers cannot be identified.

Types of Ransomware That Are Lurking on the Internet

There are two types that are a serious threat to your e-commerce business:

1. Encryption Ransomware

The first one is encryption ransomware. Advanced algorithms are used by these attackers to encrypt all your data and your valuable files. It’s basically designed to stop all your access to the PC and on top of everything, it’s also used to display the ransom messages. Some of the most dangerous and trending ransomware families out there are, LockerGoga, CryptoWall, Locky.

2. Locker Ransomware

In this one, you just can’t get any access to your files and you are simply locked out. No, the files and the data in this attack don’t get encrypted, but you do have to pay a ransom in order to get access back. One of the major examples of this is Winlocker.

Overall Verdict

We hope you now understand everything about ransomware and how it can affect your business. So, now without wasting any more time just look for ways to protect yourself and your data from such malicious attacks. Most importantly, always keep a backup of your important files and you will be safe for sure.

Simeon Georgiev
https://www.linkedin.com/in/simeon--georgiev/
I am a Cyber Security Enthusiast from Bulgaria. I like to write about malware and ransomware and global cyber attacks. You can reach me on Twitter @sgeorgiev1995 or Email: simeon10georgiev@gmail.com
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