Milpitas: SonicWall, the publisher of the world’s most quoted ransomware data and trusted cyberattack intelligence, recently released the 2023 SonicWall Cyber Threat Report. The bi-annual report details an increasingly diversified cyberattack landscape amid shifting threat actor strategies.

SonicWall recorded the second-highest year on record for global ransomware attempts, as well as an 87 percent increase in Internet of Things (IoT) malware and a record number of crypto-jacking attacks (139.3 million) in 2022.

“The past year reinforced the need for cybersecurity in every industry and every facet of the business, as threat actors targeted anything and everything, from education to retail to finance,” said SonicWall President and CEO Bob VanKirk. “While organizations face an increasing number of real-world obstacles with macroeconomic pressures and continued geopolitical strife, threat actors are shifting attack strategies at an alarming rate.”

Global malware volume increased by 2 percent year-over-year, but it jumps in IoT malware by+87 percent and crypto-jacking by +43 percent which offset the decline of overall global ransomware volume by -21percent, signifying a strategic shift. Threat actors have embraced slower and more stealthy approaches to achieve financially-motivated cyberattacks.

“Cyberattacks are an ever-present danger for companies of all sizes, putting their operations and reputation on the line,” said SonicWall Threat Detection and Response Strategist Immanuel Chavoya. “It is crucial for organizations to understand attackers’ tactics, techniques, and procedures, and commit to threat-informed cybersecurity strategies to defend and recover successfully from business-disrupting events. This includes stopping sophisticated ransomware attacks as well as defending emerging threat vectors, including IoT and crypto-jacking.”

In addition to cyberattacks becoming more sophisticated and covert, threat actors are showing clear preferences for certain techniques, with notable shifts toward weak IoT devices, crypto-jacking, and potentially soft targets like schools and hospitals.

Prominent ransomware attacks impacted enterprises, governments, airlines, hospitals, hotels, and even individuals causing widespread system downtime, economic loss, and reputational damage. Following global trends, several industries faced large year-over-year increases in ransomware volume, including education by +275 percent, finance by +41% percent, and healthcare by +8 percent.

Cybercriminals are using increasingly advanced tools and tactics to exploit and extort victims, with state-sponsored activity growing as a concern. While ransomware continues to be a threat, SonicWall Capture Labs threat researchers expect more state-sponsored activity targeting a broader set of victims in 2023, including SMBs and enterprises.

"Cyberattacks of all varieties continue to hinder organizations worldwide," said Logically Chief Operating Officer Keith Johnson.