A recent research study has revealed a troubling trend: ransomware attacks are not only increasing in frequency but are also being executed at an unprecedented speed. Experts indicate that malicious actors are launching attacks even quicker than security teams can address them.
Ransomware-as-a-service is a prevalent method used by cybercriminals, offering a variety of harmful tools and services to customers on a subscription basis. The latest comprehensive analysis from the Barracuda Managed XDR team indicates that the number of ransomware assaults in 2024 surged fourfold compared to the previous year.
In their investigation, researchers analyzed 11 trillion IT events in 2024, identifying 1 million as potentially risky. Among these, 16,812 events were classified as “high-severity threats that required immediate defensive measures.”
While the availability of Ransomware-as-a-Service offerings may contribute to this upward surge in attacks, the Barracuda Managed XDR team noted that the rapid evolution of ransomware is particularly striking when compared to other forms of cyber threats.
According to their findings, actors attempting ransomware deployments typically operate undetected for periods ranging from 74 minutes to 2 hours before their activities are uncovered. “This operational model not only broadens the landscape of individuals who can access and execute ransomware but also enhances the complexity and sophistication of the attacks,” the team added.
Data suggests that while malicious actors can implement malware in just over a minute, the Barracuda Managed XDR can effectively monitor up to 350,000 IT events every second to spot significant threats. Yet despite ongoing advancements in cybersecurity methodologies, hackers are consistently employing more advanced and expedited tactics.
The security professionals emphasize that organizations can still adopt crucial safety strategies. Implementing multifactor authentication, robust access controls, regular patch management, data protection measures, and conducting cybersecurity awareness training for staff are all effective ways to bolster defenses against these fast-evolving threats.
