The number of ransomware threats quadrupled in 2024, underscoring how cybercriminals are exploiting Ransomware-as-a-Service (RaaS). This development is highlighted in a new report from Barracuda Networks.
Throughout the year, Barracuda’s AI-driven security platform XDR recorded a total of 11 trillion IT events — roughly 350,000 events per second. From that massive volume of telemetry, analysts flagged one million potential risks, including thousands of serious incidents that required immediate remediation.
Analysts at the Barracuda Security Operations Center examined this extensive dataset to map the most common techniques cybercriminals used to infiltrate and disrupt organizations worldwide.
Key findings from the study:
- Ransomware threats quadrupled in 2024 as RaaS platforms became more prevalent. Attackers exploited unprotected devices and vulnerable access points to prepare and execute attacks.
- Weak authentication and poor password management were among the top security risks. Cybercriminals targeted weak passwords, insufficient multi-factor authentication, and low awareness of social engineering. Inadequately configured VPNs and poorly managed remote access protocols were also common targets.
- Email attacks powered by Phishing-as-a-Service (PhaaS) rose sharply and ranked among the top five threat categories. Phishing campaigns have grown more sophisticated, increasing the likelihood that even experienced users can be deceived.
“The rise of as-a-service platforms makes cyberattacks more sophisticated, flexible, and harder to detect. The developers behind these platforms have the time, resources, and expertise to invest in advanced tools and techniques. Organizations therefore need a broad and deep security strategy to strengthen their defenses and resilience,” says Eric Russo, Director, SOC Defensive Security at Barracuda Networks.
“Attackers adapt at lightning speed”
Security expert Klas Palmér at Barracuda Networks observes a clear trend in which threat actors continuously refine their tactics:
“Threats evolve quickly — security must evolve at the same pace. Organizations should invest in AI-driven monitoring and proactive security solutions that can automatically identify and neutralize threats in real time.”