Ransomware on its way to IoT devices, experts warn

Bengaluru: As reported, India is amongst the top 10 countries most affected by ransomware attacks making it a grave concern across the senior leadership and management teams. These incidents are part of a growing and alarming trend wherein large ransomware gangs, often operating under a RaaS (Ransomware as a service) model, cripple the operations of multiple types of organizations simultaneously to maximize their impact.

A new research titled R4IoT (Ransomware for IoT) launched by Forescout's Vedere Labs is a proof-of-concept study illustrating how next-generation ransomware may target IoT (Internet of Things) devices for initial access and lateral migration to IT (Information Technology) and OT (Operational Technology) assets, with the purpose of causing physical interruption to corporate operations.

The R4IoT study emerged from the observation of an increase in the number and diversity of IoT, IoMT, and OT devices connected to standard corporate IT networks and the ransomware attacks that were being attempted. The rapid expansion in the number of connected devices in organizations exponentially increases the risk posture of nearly every business across the globe, all related to the growth of IoT devices in corporate networks, converging IT and OT networks, and the rise of supply-chain vulnerabilities.

Daniel dos Santos, Head of Security Research for Forescout says "Threat actors are exploiting a broader threat surface than before, and we see hacking groups discussing IoT access on forums today. It has become imperative to arm organizations with knowledge to extend their proactive defenses and ensure IoT devices have adequate segmentation from their critical IT and OT infrastructure."