The report also showed that cyber criminals frequently used the threat of a distributed denial of service (DDoS) attack to elicit a bitcoin ransom. These attacks slow down a target server until it is rendered useless, often leading to prolonged business interruptions.
What’s worse is that these types of attacks are relatively easy for criminals to perform, and are often automated by using malware or bots. Additionally, Radware found that 40 percent of respondents don’t have a cyber incident response plan in place to counteract ransomware and DDoS attacks.
The report also made a number of predictions for cyber attacks in 2017, which included the creation of new types of DDoS attacks, more targeted ransomware attacks and the increased prevalence of politically-motivated cyber attacks.