KraussMaffei

Sobering Lessons from the KraussMaffei Ransomware Attack

The recent cyberattack on KraussMaffei, a German manufacturer of molding machinery for plastics and rubber, provides another reminder of the growth, persistence and destructiveness of ransomware. For those unfamiliar with it, ransomware is a type of malware that targets and infects servers, workstations and mobile devices, encrypts all the data it finds, and then presents a note demanding an online payment for the key necessary to unlock the files.

Both businesses and consumers are vulnerable to ransomware attacks: cyber criminals have used it to extort billions of dollars from victims in recent years, and are projected to net another $11.5 billion from them in 2019.