What Is Ransomware
Ransomware has become one of the most damaging cyber threats businesses face today, and current data makes the stakes impossible to ignore. According to the Verizon 2025 Data Breach Investigations Report, ransomware was present in 44% of all analyzed breaches. Among small and mid-sized businesses specifically, that figure climbs to 88% of breach incidents. The average total cost of a ransomware attack reached $5.13 million in 2024, factoring in ransom payments, recovery time, and reputational harm. To help your business stay out of those statistics, here are five critical things to know about ransomware.
- What Ransomware Is: Ransomware is a form of malware that hackers deploy to block access to your files and systems. Criminals typically encrypt your data, making it completely inaccessible, and then demand a payment (usually in cryptocurrency) in exchange for a decryption key. Modern attacks often go a step further: before encrypting your data, attackers frequently exfiltrate it, creating a second layer of leverage to pressure victims into paying.
- Paying the Ransom Rarely Helps: Paying might seem like the fastest path back to normal operations, but it almost never works out that way. Research from the Ponemon Institute found that only 13% of businesses that paid a ransom received all of their data back. Beyond the low recovery rate, paying signals to attackers that your organization is a willing target. Varonis reports that 60% of organizations that paid a ransom experienced a repeat attack. There are also legal considerations: paying a ransom to a group under U.S. Treasury OFAC sanctions can expose a business to additional liability, regardless of intent.
- Prevention Is the Best Defense: Since paying rarely resolves the problem, stopping an attack before it starts has to be the priority. That means keeping antivirus and managed detection and response tools current, applying patches consistently (exploited software vulnerabilities accounted for 32% of ransomware incidents in 2025, according to Sophos), and training employees to recognize phishing attempts, which remain the most common delivery method. A layered cybersecurity and compliance framework closes the gaps attackers rely on most.
- Backups Are Your Safety Net: A reliable, tested backup strategy is one of the most effective ways to limit damage when an attack occurs. When files are backed up consistently and stored securely off-site or in the cloud, recovery does not depend on paying a ransom. Sophos found that 97% of organizations with encrypted data were ultimately able to recover it, with the majority relying on backups rather than paying. One important caveat: attackers frequently target backup systems specifically, so your backups need to be protected with the same rigor as your primary environment. Managed IT services that include automated, monitored backup workflows take this off your plate entirely.
- Every Device Is a Potential Target: There is a common assumption that ransomware only goes after Windows PCs, and while Windows systems are the most frequent target given their market share, attacks have been well-documented on macOS, Android, iOS, Linux, and network-attached storage devices. Cloud environments are increasingly in scope as well. Any endpoint that connects to your network is a potential entry point, which is why coverage across all device types and platforms is essential. If a single unmanaged device can reach your network, it can serve as the door an attacker walks through.
Protect Your Business from Ransomware: Take Action Before an Attack Hits
Ransomware is not a threat aimed only at large enterprises. The FBI’s Internet Crime Complaint Center received 3,156 ransomware complaints in 2024 alone, an 11.7% increase over the previous year, and the organizations behind those complaints spanned businesses of every size and industry. The average recovery takes 24 days and costs millions, and that assumes things go relatively well.
At WheelHouse IT, we maintain a five-year, zero-ransomware track record across our client base, backed by an internal NOC team, 24/7 monitoring, and a layered security approach that catches threats before they escalate. Our complimentary network risk assessment is the fastest way to find out where your current environment stands and what needs to change.
Contact our team today to schedule yours:
- Florida: (954) 474-2204
- New York: (516) 536-5006
- Or reach us online
