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The Impact of Cyberattacks is Massive

Posted on 10.13.2016

It seems as though a day does not go by without hearing of some new cyberattack, worse than any one before, of course. It's a problem and there seems to be absolutely no end in sight.

In a recent survey IT service providers by data protection solution Datto revealed today that 91 percent of respondents reported having their clients victimized by ransomware in the past twelve months.


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What's worse is that some 40 percent reported more than half-a-dozen separate attacks during the same time frame. In the United States, these attacks cause $75 billion in damages to small and medium-sized businesses, with downtime from ransomware often costing businesses more than $8,500 per hour.

“Ransomware is not about a couple of hacker kids sitting in the basement and messing around,” said Austin McChord, Datto’s CEO. “It’s a major enterprise orchestrated by large and well-funded companies, and it’s becoming a massive problem for businesses, regardless of industry or geographical location. ” 

Additional highlights of the survey include:

  • 63 percent of survey respondents mentioned that a ransomware attack led to business-threatening downtime
  • 31 percent of respondents replied that they experienced multiple attacks in a single day
  • The average ransom demanded ranges between $500 and $2,000

 

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