Produced by: Pranav Dixit
Nearly 300 small Indian banks were affected, the overall impact on India's payment systems was minimal, estimated to be less than 0.5% of total transaction volume.
The National Payments Corporation of India (NPCI) swiftly isolated the affected banks from the broader payment network to prevent the attack from spreading further.
Ransomware is a type of malicious software (malware) that infects computers and other devices.
It essentially holds your data hostage by encrypting your files, making them inaccessible.
Cybercriminals leave a ransom note demanding payment, usually in cryptocurrency, in exchange for a decryption key.
Ransomware attacks can cripple businesses, disrupt critical infrastructure, and lead to significant financial losses.
Ransomware commonly spreads through phishing emails with malicious attachments, infected websites, or software vulnerabilities.
Strong passwords, regular software updates, and cautious online behaviour are crucial for reducing the risk of infection.
Paying the ransom doesn't guarantee file recovery and often encourages further criminal activity.
If you're a victim of ransomware, contact cybersecurity professionals for assistance with data recovery and incident response.