The news: Hosting provider Rackspace said a ransomware attack was responsible for its dayslong outage that began on December 2, meaning the emails of tens of thousands of users could be lost, per The Register.
A big target for ransomware criminals: Ransomware attacks happen through phishing emails or websites containing malware that can gain access to a user’s PC and spread throughout a network.
Rising tide of cyber threats: One in 40 organizations is targeted by a ransomware attack weekly, with government, military, education, research, and healthcare industries the most targeted, per CheckPoint Research (CPR), a 32% YoY increase.
More than 25% of organizations expect double-digit growth in cybersecurity budgets in 2022, per PwC’s 2022 Global Digital Trust Insights report.
The bigger picture: The ransomware attack could be devastating for Rackspace and a wake-up call for any business relying on third-party hosting services to securely manage their data.