What is Crypto Malware? How can we Identify It?

April 11, 2023 By Johan Curtis No Comments 8 minutes

Crypto Malware, or ransomware, is malicious software that encrypts files on a PC or network and demands payment in exchange for a decryption key. The use of cryptography is what makes this type of malware highly effective, and it has become a significant cyber threat to businesses and individuals alike.

What is Crypto Malware

Crypto Malware’s brief history can be traced back to the 1980s. Still, it has evolved significantly over the years, and the profitability of these attacks has skyrocketed with the rise of cryptocurrencies. Understanding and detecting Crypto Malware is crucial, as the loss of critical data can result in a significant financial loss, and the reputational damage caused by a successful attack can be hard to recover from.

Furthermore, we will delve deeper into Crypto Malware, how it works, how to detect it and provide tips on prevention and recovery. By taking a proactive approach to cybersecurity, individuals and businesses can protect themselves against the devastating consequences of Crypto Malware attacks.

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What is Crypto Malware?

Here are the different types of Crypto Malware:

File-Encrypting Ransomware: This is the most common type of Crypto Malware that encrypts files on a victim’s computer or network.
Screen-Locking Ransomware: This type of Crypto Malware locks the victim out of their computer or device entirely.
Mobile Ransomware: Mobile ransomware targets mobile devices such as smartphones and tablets.
Master Boot Record (MBR) Ransomware: MBR ransomware infects the MBR of a victim’s computer, preventing the computer from booting up and making it unusable.
RaaS (Ransomware as a Service): RaaS is a subscription-based model in which cybercriminals can rent or buy a pre-built ransomware kit to launch attacks.
Hybrid Ransomware: Hybrid ransomware combines file-encrypting and screen-locking ransomware to make the attack more effective.
Doxware: Also known as leakware, is a type of ransomware that encrypts files and threatens to publish sensitive data if the ransom is not paid.
Locker Ransomware: Locker ransomware locks the victim out of their computer or device, but unlike screen-locking ransomware, it does not encrypt files.

Common attack vectors used by Crypto Malware

Crypto Malware can be delivered to a victim’s computer or network through various attack vectors, including phishing emails, malicious websites, drive-by downloads, and social engineering. Phishing emails are the most common attack vector. They typically involve a convincing email which appears to be from an authentic source, such as a bank or a trusted vendor. Once the victim clicks on a link or opens an attachment, the Crypto Malware is installed on their computer or network.

How to Detect Crypto Malware?

It is essential to identify Crypto Malware so it doesn’t damage systems and networks. Crypto Malware can be found in different ways, such as through:

Detection Based on Signatures

This way of finding Crypto Malware uses signatures or patterns already made. It compares the code in a file or an executable to known Crypto Malware signatures in a database. If a match is found, it is marked as a possible threat. But this method isn’t always reliable because new Crypto Malware is made with unique signatures that aren’t in the database.

Detection Based on Heuristics

This method uses algorithms based on artificial intelligence to find Crypto Malware that has yet to be found through signature-based detection. It looks at how an executable or file works to see if it is acting suspiciously. This method is better than signature-based detection, but it isn’t always right because even good software sometimes acts strangely.

Detection Based on Behavior

This method monitors how the system works and looks for patterns of behavior that might indicate an infection by Crypto Malware. It focuses on things that Crypto Malware usually does, like change files, encrypt files, and connect to networks without permission.

What are The Tools Used to Detect Malware

It is important to stop Crypto Malware attacks to protect systems and networks from damage. Here are few best ways to keep Crypto Malware attacks from happening:

Update Software and Systems Regularly

Keeping software and systems up-to-date with the latest security patches and updates is important to stop Crypto Malware attacks. This helps to fix problems that attackers might be able to use.

Use anti-virus and anti-malware apps.

Anti-virus and anti-malware software can help find and stop Crypto Malware attacks. Ensure the software is up to date and is set to run scans regularly.

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Be careful with email links and attachments.

Almost always, email attachments or links are used to spread crypto malware. Don’t tap on links or download files from emails or websites you don’t know about.

Use strong passwords and multi-factor authentication.

Strong passwords and multi-factor authentication can stop people from getting into systems and networks without permission. Use different, complicated passwords for each account, and don’t use the same password for multiple accounts.

Back up your data frequently.

It’s essential to back up your data often to avoid losing data in case of a Crypto Malware attack. Make sure that backups are stored safely and are not connected to the network or systems they are backing up.

Training for employees on cybersecurity

It is imperative to teach employees how important cybersecurity and safe browsing are. The employees should be taught how to spot and stop Crypto Malware attacks.

Crypto Malware attacks can be stopped by using a cybersecurity framework. It is a set of rules, and best practices organizations can use to keep their systems and networks safe. The framework should have policies and procedures for controlling access, protecting data, responding to incidents, and getting back.

Recovery from Crypto Malware: Steps to Take and Tips for Restoring Data and Systems

Recovering from a Crypto Malware attack can be a challenging and time-consuming process. Here are 6 steps to take after a Crypto Malware attack:

Isolate infected systems: The first step is to isolate infected systems to prevent the Crypto Malware from spreading to other systems or the network.
Identify the type of Crypto Malware: Identifying the type of Crypto Malware that has infected the system is essential to determine the best course of action for recovery.
Determine the extent of the damage: Determine the extent of the damage caused by the Crypto Malware. This can help prioritize the recovery process and identify critical systems or data that must be restored first.
Notify relevant parties: Notify relevant parties, such as IT staff, security teams, and management, about the Crypto Malware attack. This can help coordinate the recovery process and ensure everyone is aware of the situation.
Restore data and systems: Restore data and systems from backups. It is important to ensure that the backups are up-to-date and not infected with Crypto Malware.
Review and update security measures: After recovering from a Crypto Malware attack, reviewing and updating security measures is essential to prevent future attacks.

A disaster recovery plan is essential to ensure a swift recovery from a Crypto Malware attack. A disaster recovery plan outlines the procedures and policies for restoring systems and data after a disaster, such as a Crypto Malware attack. The plan should include details of backup procedures, recovery procedures, and roles and responsibilities during the recovery process.

4 Tips to Restore Your Data

Restoring data and systems after a Crypto Malware attack can be complex. Here are some tips to help with the recovery process:

Prioritize critical data and systems: Prioritize critical data and systems essential for business operations.
Test backups before restoring: Before restoring data from backups, test them to ensure that they are up-to-date and are not infected with the Crypto Malware.
Rebuild infected systems: In some cases, it may be necessary to rebuild infected systems to ensure that the Crypto Malware has completely been removed.
Review and update security measures: After recovering from a Crypto Malware attack, review and update security measures to prevent future attacks. This may include implementing additional security measures or updating existing policies and procedures.

Recovering from a Crypto Malware attack requires a combination of measures, including isolating infected systems, identifying the type and extent of damage, restoring data and systems from backups, and reviewing and updating security measures. A disaster recovery plan can help ensure a swift recovery from a Crypto Malware attack and minimize the impact of any potential attacks.

Conclusion to Crypto Malware Attacks and Prevention

Crypto Malware is a type of malware that encrypts its victim’s files and asks for a ransom to get the key to unlock the files. It can get into a device system in many ways, such as through email attachments, infected websites, or malicious software downloads. Crypto Malware attacks can cause a lot of damage. Hence, people and businesses need to know how to recognize them, halt them, and understand how they work. In a Crypto Malware attack, it is important to have an efficient recovery plan and take steps to isolate infected systems, figure out what kind of damage has been done and how bad it is, restore data and systems from backups, and review and update security measures.

In conclusion, consumers and organizations are becoming vulnerable to Crypto Malware attacks. By knowing the risks and putting in place strong security measures, we can keep ourselves and our businesses safe from the terrible effects of these attacks. Always be careful when opening email attachments or downloading software from the internet, and ensure your software is up to date.