Attackers use deceptive emails, messages, or malicious links to trick users into downloading ransomware onto their systems.

How it Works:

• Cybercriminals send fake emails impersonating legitimate organizations (banks, service providers, or government agencies).
• The email contains malicious attachments or links leading to infected websites.
• When the victim opens the file or clicks the link, ransomware is downloaded onto their system.
• The malware encrypts files and locks access, demanding a ransom to restore them.
• Often used in targeted attacks on businesses and healthcare institutions.

Ransomware Attack on C-Edge Technologies (2024)

 Details:

• C-Edge Technologies, which provides banking IT services, was attacked, affecting nearly 300 small banks across India.
• The ransomware encrypted critical banking data, disrupting ATM withdrawals, UPI transactions, and payment services.
• Attackers demanded a ransom in cryptocurrency to restore access.
• The breach revealed vulnerabilities in third-party service providers handling sensitive financial data.