Ransomware is a growing threat to businesses and organizations around the world, as it can lead to the loss of critical data and disruption of business operations. To protect against these attacks, companies must implement strong security measures, including the use of immutable Object Storage as a key tool for safeguarding their data.
In this article, we will explore the impact of ransomware on corporate operations, the role of Object Storage in protecting against these threats, and the benefits of using Object Storage for data protection.
The Impact of Ransomware on Corporate Operations
In a nutshell, ransomware is a type of malware that encrypts a victim's files and demands a payment in exchange for the decryption key. When a company or organization falls victim to a ransomware attack, the consequences can be severe, as it can lead to the loss of critical data, disruption of business operations, and financial losses.
One study from Acronis says that Global ransomware damages are estimated to exceed $30 billion by 2023. In addition to these direct costs, ransomware attacks can also result in reputational damage and loss of customer trust. In some cases, companies have even been forced to shut down operations temporarily in order to contain the damage.
Related reading: 6 backup strategy solutions for ransomware data recovery in 2023
To mitigate the risks associated with ransomware, companies should implement strong security measures, such as regularly backing up data and training employees on how to identify and avoid phishing scams. However, even with these measures in place, companies may still be vulnerable to ransomware attacks, as the attackers are constantly evolving and finding new ways to bypass security defenses.
Related reading: What is ransomware? 4 main types and a practical guide to restoring files encrypted by ransomware in 2023
The Role of Immutable Object Storage in Protecting Against Ransomware Threats
One of the key challenges in protecting against ransomware attacks is the need to securely store large amounts of data. Traditional storage solutions, such as on-premises storage systems and file servers, are often not equipped to handle the scale and complexity of modern data environments.
This is where immutable Object Storage comes in. Object Storage is a new system designed to store and manage large volumes of unstructured data. Unlike traditional storage systems, which are organized using a hierarchical file system, Object Storage uses a flat address space, which allows for the efficient and scalable storage of data.
Related reading: What is Object Storage? Use cases & advantages
The Benefits of Using Object Storage for Data Protection
Object Storage has become an essential tool for protecting against ransomware attacks and safeguarding critical data. Below, we will explore five of the key advantages of Object Storage:
- Redundant data storage: One of the key benefits of object storage is its ability to provide redundant copies of data. By storing multiple copies of data across multiple storage nodes, object storage can provide a high degree of data availability and durability, even in the face of a ransomware attack. This can prevent data loss and ensure that business operations can continue without interruption.
- Built-in security features: Many object storage systems include built-in security features, such as S3 Object Locking immutability, Object Versioning, encryption, and access controls. These features can help to prevent unauthorized access to data and to reduce the risk of a ransomware attack.
- Scalability: As data grows, object storage systems can easily expand to accommodate the additional data without needing complex reconfiguration or downtime. This allows companies to easily keep pace with their data growth without sacrificing data availability or security.
- Flexibility: Object storage can be accessed and managed using various tools and platforms. This allows companies to easily integrate object storage into their existing data management infrastructure and to take advantage of the latest developments in data storage technology.
- Cost savings: Object Storage can provide a cost-effective solution, particularly when it comes to storing large amounts of unstructured data.
Why Your Company Needs Object Storage
Object Storage is an essential tool for protecting against ransomware attacks and safeguarding critical data. By providing cost-effective redundant data storage, built-in security features, scalability, and flexibility, Object Storage can help companies to mitigate the risks associated with ransomware, and ensure the continued availability and security of their data.
Related reading: What’s Object Storage, and how does it work?
Discover Cubbit: geo-distributed Object Storage that’s secure, s3 compatible, and immutable
Cubbit is a geo-distributed Object Storage that’s secure, S3 compatible, and immutable.
In Cubbit, each user is one or more nodes of the network. Each stored data is encrypted with AES-256, micro-fragmented, and geo-distributed in multiple copies in a p2p network under user control.
The service is s3 compatible and supports S3 Object Locking, Object Versioning, and S3 Multipart Upload. The UX is simple: you can switch from AWS to Cubbit by changing one configuration parameter in the CLI.
Want to see Cubbt in action? Look at our latest demo >