RaaS racks up $692 million from collective attacks in 2020

RaaS Ransomware-as-a-service

Mumbai: The advent of RaaS (ransomware-as-a-service) is one of the key reasons why ransomware has prospered, according to new research from cyber exposure company Tenable. The service model has significantly lowered the barrier of entry, allowing cybercriminals who lack the technical skills to commoditize ransomware. In 2020 alone, ransomware groups reportedly earned $692 million from their collective attacks, a 380% jump over the previous six years combined ($144 million from 2013 to 2019). The success of RaaS has also attracted other players such as affiliates and initial access brokers (IABs).…

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