The software industry has been particularly hard hit by ransomware attacks, accounting for 47% of incidents in the U.S. in 2023. These attacks have significantly impacted software organizations, with 66% affected and an average cost of $1.85 million per incident. Additionally, ransomware incidents have resulted in an average downtime of 22 days for affected companies.
The rise of Ransomware as a Service (RaaS) has further exacerbated this issue, allowing cybercriminals to specialize and carry out attacks more efficiently. Prominent ransomware attacks in 2023 include the ESXiArgs attack on VMware ESXi servers and the Clop group's exploitation of Progress Software's MOVEit Transfer vulnerability. To combat these threats, software companies must prioritize proactive cybersecurity measures, leveraging technologies like machine learning, maintaining fortified incident response plans, and regularly backing up data.
View the latest ransomware attacks on the Software industry:
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