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Illustration: Aïda Amer/Axios

Ransomware attacks are becoming smarter, more common, and more dangerous.

What's happening: In ransomware incidents, attackers take systems down and demand payment (usually in bitcoin) to restore access to them.

  • Compared with the political impact of election hacking or the privacy violations of data breaches, ransomware has typically been viewed as the cyber equivalent of hit-and-run robbery.
  • But aggressive new tactics, including threats of massive file dumps, are blurring the lines between ransomware and other attacks, making them a national security issue as well as a business problem.

Driving the news: In the latest indication that ransomware is moving beyond its best-known targets — state and local governments and healthcare systems — a Department of Homeland Security advisory on Tuesday reported a ransomware attack that forced a natural gas compression facility to shut down two days.

  • Analysts at Dragos identified the incident as one reported in December by the Coast Guard.
  • Last month, researchers at Emsisoft warned that ransomware attacks could disrupt the 2020 U.S. elections. "[T]hreat actors could use ransomware to tamper with the 2020 election process by attacking county-level entities and lower-level election officials," according to the Emsisoft report. Attacks could "potentially disrupt local voting infrastructure, stifle access to information, leak voter data and ultimately undermine public trust."
  • The Palm Beach County, Florida, election supervisor told the Palm Beach Post last week that the county had suffered a ransomware attack in September 2016. The county's previous election supervisor, who was in office then, denied the report.

The big picture: A raft of recent ransomware research paints an alarming picture of a threat that's still evolving.

  • The threat analysis firm Recorded Future reports a 20% increase in ransomware incidents affecting state and local governments and healthcare institutions year-to-date for 2020 compared with the same period in 2019.
  • Recorded Future and other analysts note that many ransomware attackers now also seize mountains of data from target networks before shutting them down, then use the threat of publicizing the private documents to demand payment.
  • In another trend, a whole industry of "ransomware as a service" providers is emerging to handle the technical work for would-be ransom takers.
  • IBM reports "high levels of code innovation" in the ransomware realm, and finds that the most common vulnerability exploited by ransomware is a flaw in a part of the Windows operating system called SMB, or "server message block."

Yes, but: The full scope of ransomware activity is tough to gauge because private industry is under no obligation to report incidents — and many affected companies are unlikely to admit they've been had.

  • According to the FBI's Internet Crime report for 2019, the IC3 received 2,047 complaints identified as ransomware last year, with adjusted losses of over $8.9 million.
  • That's compared to a total of 467,361 complaints of all kinds in 2019 — an average of nearly 1,300 every day — with more than $3.5 billion in losses to individual and business victims.

Go deeper

Austria approves COVID vaccine mandate for adults

A vaccination center installed at the Barbara Chapel of St Stephen's Cathedral in Vienna, Austria. Photo: Alex Halada/AFP via Getty Images

Austria's lower house of parliament voted on Thursday in favor of making COVID-19 vaccinations compulsory for most adults from next month.

Why it matters: The bill is expected to soon pass the upper house and be signed by President Alexander Van der Bellen in order for the law to take effect Feb. 1, per Reuters. It'd make Austria the first EU nation to impose such a sweeping mandate.

Hope King, author of Closer
Updated 4 hours ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

Mitch McConnell's remarks on Black voters raise ire

Senate Minority Leader Mitch McConnell during a Capitol Hill news conference earlier this year. Photo: Anna Moneymaker/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) has been widely criticized for comments he made this week about Black American voters.

Driving the news: When asked by a reporter Wednesday about concerns among voters of color, McConnell said "the concern is misplaced, because if you look at the statistics, Black American voters are voting in just as high a percentage as Americans."