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Schools Held Hostage: Education Pays the Price for Ransomware in 2024
Schools, colleges, and universities face skyrocketing costs from ransomware attacks, with some paying a median ransom of $6.6 million. Sophos reports that while attacks dropped in 2024, the demands skyrocketed. With backups compromised, schools are left paying more, both in ransom and recovery. The education…
Hot Take:
Ransomware attackers are clearly not fans of school spirit! They’ve turned our educational institutions into their personal piggy banks, and it’s costing these establishments an arm, a leg, and a few million bucks. Maybe it’s time to turn those IT classes into cybersecurity boot camps?
Key Points:
- 44% of schools faced ransom demands of $5 million or more.
- Median ransom paid by schools was a whopping $6.6 million.
- Ransomware attacks decreased in 2024 compared to 2023 but are still higher than in 2022.
- 95% of attacked institutions had backup compromise attempts, with 71% success rate.
- Common causes: vulnerability exploits, malicious emails, and compromised credentials.
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