Hack the Hackers May Be a Solution
While a handful of cybercriminals are in it for the fun, most are not. Many criminal masterminds are after one thing and one thing only – your bank balance. So why not hack the hackers? Former UK National Cyber Security Head, Ciaran Martin, believes that hacking hackers may be a solution.
Ransomware on the Rise
Ransomware attacks are increasingly becoming a major issue of concern for US and UK businesses. Many say that this form of cybercriminal activity is poised to become an epidemic of global proportions. Here’s an example of how bad it can get. In August 2020, currency exchange operation Travelex collapsed into administration after suffering a massive cyberattack 6 months earlier. The company allegedly paid a $2.3 million (£1.6 million) ransom to hackers who took down its networks and temporarily prevented foreign exchange transactions. While Travelex was saved by a pre-pack sale, 1,309 jobs were lost. Toby Banfield, the joint administrator at PwC, said:
“The completion of this transaction has safeguarded 1,802 jobs in the UK and a further 3,635 globally and ensured the continuation of a globally recognised brand. Unfortunately, as the majority of the UK retail business is no longer able to continue trading, it has regrettably resulted in 1,309 UK employees being made redundant today.”
Time for Revenge
So how do we stop ransomware attacks in their tracks? As Ciaran Martin suggests – hack the hackers. He recommends that GCHQ (UK Government Communications Head Quarters) or the military could use their own hacking techniques to cripple the servers and software used by prolific cybercriminals. Martin believes that disruptive attacks applied by the government are only appropriate for large scale operations, where hackers are demanding millions and sophisticated hacking methods have been used. He says:
“I actually think that disruption of infrastructure, what you might call a cyber-attack, is justified. You won’t be able to do it on every ransomware gang and if you did you’d probably start making mistakes. You’d probably start hitting innocent people.”
A UK government spokesperson agreed that counter cyberattacks are an option to paralyze hackers but should only be deployed when all else has failed.
