Tuesday, June 18, 2024

Ransomware Attacks Frequently Target Organizations with 51-200 Employees

High-profile ransomware attacks on corporations like Kaseya, Colonial Pipeline, and MOVEit may lead to the misconception that only large organizations are targeted.

However, the fact is that underestimating the risk due to focusing on large organizations may increase your vulnerability to ransomware attacks.

Cybersecurity researchers at Trellix recently asserted that organizations with 51-200 employees, which are small or medium-sized organizations, are frequently targeted by ransomware attacks.

The Method and Source of Ransomware

Trellix Advanced Research Center gathered data on 9,000 global ransomware victims, showing any organization can be targeted.

Trellix researchers used statistics to enhance victim profiles with organization details, revealing unique insights. Moreover, they also speculated that the unlisted victims likely exist.

While the details of the companies or organizations that are used to evaluate these data are mainly:-

  • Company sector
  • Company location
  • Company revenue size
  • Company size

Data from 97 ransomware groups over 2 years show Lockbit as the top extorter on leak pages, except for Clop’s recent rise.

Victims per ransomware group (Source – Trellix)

Data shows the highest number of victims from 51-200 employee companies (20.57%), then less than 50 employees (16.91%), and decreases for larger companies.

Distribution of global ransomware victims (Source – Trellix)

Here below, we have mentioned the decreasing percentages for larger companies:-

  • 501-1,000 at 7.12%
  • 1,000-5,000 at 9.92%
  • 5,000-10,000 at 2.38%
  • 10,000+ at 4.46%

Apart from this, there is an “unknown” category that accounts for 27.87% of victims, totaling 8,943 ransomware cases.

While in the U.S. ransomware attacks, 33.57% of victims are companies with 51-200 employees.

Small businesses (less than 50 employees) rank second at 24.48%, larger organizations have lower percentages.

Data on 8,943 cases reveals the “unknown” category is the largest at 32.36%. The companies with a revenue range of $10M-$50M were most affected at 21.93%, followed by $1M-$10M and $1B-$10B at 14.04% and 9.71%.

Company size by revenue globally (Source – Trellix)

Data overview of U.S. ransomware victims by revenue size:- 

  • $10M-$50M most impacted (37.63%)
  • $1M-$10M close second (19.49%)
  • Smaller (6.27%) and larger (2.46%) companies were also affected

Sector Impacted

Here below, we have mentioned all the sectors that are impacted:-

  • Technology
  • Health Care
  • Oil & Gas
  • Industrials
  • Financials
  • Consumer Services
  • Consumer Goods
  • Basic Materials
  • Telecommunications
  • Government
  • Utilities

Data on 8,943 ransomware cases shows industrial (24.61%) and consumer services (14.28%) sectors are most impacted, but, besides this, the “Unknown” category stands at 27.28%.

Publicly exposed ransomware victims (Source – Trellix)

A clear heatmap of 8,493 victims shows the U.S. was targeted most, followed by the UK, Germany, Canada, and Italy. Other countries were not excused; lower percentages hint at targeting accuracy or underreporting.

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Tushar Subhra Dutta
Tushar Subhra Dutta
Tushar is a Cyber security content editor with a passion for creating captivating and informative content. With years of experience under his belt in Cyber Security, he is covering Cyber Security News, technology and other news.

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