Orange County-based cybersecurity startup, Active Cypher, announced today it was launching a disruptive solution to effectively solve ransomware threats that have so far been given free rein to spread havoc amongst individuals, companies, and government agencies alike.
The profitability of deploying ransomware has led to an explosion of disastrous attacks on companies and institutions such as Boeing, Honda, Telefónica, San Francisco’s MTA, the UK’s National Health Service, Hollywood Presbyterian Medical Center, and entire cities, such as Atlanta. The unfortunate usual outcome of these attacks is that the ransomware is only removed once a bounty has indeed been paid (usually via hard to trace cryptocurrencies). Most victims of ransomware don’t report their attack for fear of hacker-led reprisals and/or stringent consumer data protection laws (such as GDPR & CCPA) that punish data loss. However, it is believed yearly ransomware attacks reached a frightening 151.9 million in 2019. Small and medium businesses (SMBs) are at risk of ransomware just as often as larger entities and rarely have the budget to immediately pay for the retrieval of their data. An IDC report revealed that in addition to paying ransoms, which can reach into the millions, victims of ransomware face on average a cost of $250,000 per hour of downtime.
Active Cypher’s Data Guard utilizes a combination of Active Cypher’s proprietary encryption orchestration, smart AI, and advanced endpoint protection. Data Guard effectively shields clients from all permutations of ransomware attacks like WannaCry, RobbinHood, TeslaCrypt, Locky, Petya, Hidden Tear, Bad Rabbit, Gandcrab, Rakhni, Sodinokibi, and Rannoh.
With Data Guard, ransomware threats are quickly neutralized, avoiding the danger that the malicious software will spread throughout an enterprises’ network. Paired with comprehensive data encryption offered through Active Cypher’s Cloud Fortress solution, clients can rest assured that their data will be protected wherever it may go. Active Cypher’s CTO and Founder, Dan Gleason, said, “The idea that ransomware was such an unstoppable risk kept us up at night. We couldn’t accept that there was no solution to repel these types of attacks and ensure business continuity.” Active Cypher has invited several independent infosec experts, several Fortune 500 IT departments, and U.S. agencies to test its solution. An enterprise-level version of Data Guard is available via a limited release to verified customers. An individual/SMB version will be released later in April.
Active Cypher’s announcement comes at a pivotal period when hospitals and health research institutions that have been grappling with the COVID-19 outbreak, unfortunately, face continued cyberattacks. Earlier in the month, a Czech hospital suffered a debilitating ransomware attack that forced a complete IT shutdown, leading to a cancellation of all surgeries. To alleviate this risk, Active Cypher has offered Data Guard free of charge to the entire healthcare industry. Active Cypher’s CEO, Michael Quinn commented, “We are proud Active Cypher can help out during these challenging times and allow healthcare institutions to focus on the pressing matters at hand and not worry if their computers will function or not.”