Carbon Black, a U.S.-based cyber security company, informs that ransomware sales have increased by 2,502 percent this year, compared to 2016.
Earlier, several security experts forecasted that sales would increase in the cyber criminal world, and this has been proven accurate.
Carbon Black is a leading security company, and the information was released at the recent Cb Connect conference held in San Francisco.
The event involves many security experts meeting from all over the world to discuss the latest cyber security threats, as well as topics related to dark web markets.
Research Findings: Study of Sales on Dark Web
The findings from the Carbon Black report indicate that:
1. There are more than 6,300 darknet markets that currently sell ransomware, offering over 45,000 products on the dark web.
2. The going rate for DIY malware kits is anywhere from $0.50 to $3,000. The average cost per kit is $10.50. However, custom kits cost more than $3,000.
3. Malware sales value has increased from $249,287 in 2016 to $6,237,248, implying a growth of 2,502 percent. Last year, ransomware had reaped nearly $1 billion through sales on the dark web.
4. The retail selling of malicious programs alone is netting its sellers over $100,000 annually.
5. Bitcoin and Tor are the major factors for the proliferation of darknet markets.
Increase in Cybercrimes
The Threat Analysis Unit (TAU) of Carbon Black has analyzed that this increase is due to rise in supply and demand.
Cybercriminals have found ransomware an easy means of making money. It offers a turnkey type of business, and they can use it quickly and easily to earn high profits.
Even novices in cybercrime are able to perform a malware attack using DIY kits that they can purchase on the dark web, earning annual incomes of six figures.
It is easy to purchase these kits on the dark web, as the marketplaces come with a rating system, similar to the ones you see on eBay.
Burgeoning Dark Web Industry
The malware industry is burgeoning into a $6 million industry in sales done through the dark web.
According to Rick McElroy, a Carbon Black security analyst, the specialization in this cybercrime industry has occurred at a very fast pace.
It is not necessary anymore for cybercriminals to know any coding regarding malware. They can get their business running in no time using these kits.
There is also increasing specialization in the ransomware industry supply chains.
Other Products for Sale on Dark Web
There are many other malware products available on the dark web, such as a program to infiltrate a device’s lock screen. This is targeted towards Android phones and is sold at $1.
Custom ransomware products also offer source codes and can be bought on the dark web for as less as $1,000.
You can also purchase RaaS, which is a Ransomware-as-a-Service program, according to the Carbon Black report.
Response to Attacks
According to the Carbon Black survey, 52 percent of ransomware victims are ready to pay up the ransom in order to get access to their files.
Around 12 percent are ready to make a payment of $500 to get back their data.
Additionally, 29 percent of the respondents say that they are willing to make payments of $100 up to $500 to retrieve their documents, and 59 percent said that they would make payments of less than $100 to retrieve their files.
Wrap Up: Malware Sales Peaking on Dark Web
Ransomware can no longer be considered as a stick-up operation conducted by petty criminals. It is growing at an alarming rate and is making profits by destroying businesses.
The hackers don’t even need to spend much time and money to succeed in this business, as they yielding high profit with low investment, offering a cloud-based, effective turnkey cyber attack operation.
This year is turning out to be the most notorious year in cyber attacks. WannaCry and GoldenEye are two of the outstanding examples of such, which have resulted in a total global loss of millions during the year 2017.
According to analysts, the best solution to protect yourself from attacks is a strong backup plan.