Free Decryptor Restores Ransomed LooCipher Files
By: Jim Stickley and Tina Davis
September 9, 2019
Those with data files encrypted by LooCipher ransomware now have a new best friend. Victims of this specific ransomware can breathe easier thanks to a recent release by Emsisoft that decrypts files for free. Yes, for free. That’s great news for those affected by LooCipher who believed their only choice to restoring encrypted data was paying the ransom demand. It’s believed LooCipher enters systems via spam emails targeting the Windows platform by using an infected Word document. Many businesses have learned the hard way that it only takes one employee acting on a phishing email to bring a company to its knees.
There are countless types of ransomware, with some more widespread and damaging than others. One of the most well-known attacks is WannaCry, that successfully targeted hospitals, financial institutions, universities, law enforcement, logistics companies and much more worldwide. These institutions weren’t as “fortunate” as those attacked by LooCipher and they were left with impossible choices to make to restore their encrypted data and function again.
Ransomware attacks should be a source of concern for businesses everywhere. The statistics are staggering, with a $75 billion price tag in 2018 alone. Businesses are paying an average of $8,500 per hour of downtime during a ransomware hack, a hefty amount–especially for many smaller companies who are forced to close their doors after such an attack.
Fighting ransomware is a necessity for the future success of any business, and there are some practical steps a company can take to defend itself. The difficult decision of whether to pay a ransom can be avoided, especially since there is no guarantee a hacker will decrypt files after a ransom is paid. Having important data backed up on a regular basis is an important first step. Should a business be caught in a ransom situation, they can quickly restore the critical data needed to function. Backup systems should be tested to ensure they work properly when needed. They should also be stored completely off the network and without internet access if at all possible. Many types of malware has been found roaming through networks, finding backups, and encrypting those too.
The importance of educating employees can stop a ransomware attack before it starts. Staff are often the front line of defense for cyberattacks, and they are regularly targeted by email phishing hacks. Regular, ongoing cyber education addresses the many risks a company faces on a daily basis. Protecting a company from cyberattacks like ransomware is serious business, and data backup systems and employee education is a great way to start.
While sometimes there are decryptors for ransomware, most of the time they cannot be trusted to truly decrypt the data and when it comes to trust, hackers are not the most honest either. Just because they promise you keys to the data, it doesn't mean they will cough them up or that they will work. Don't take chances. Just back up!