A State-of-the-Art Review of Ransomware Attacks on Internet of Things: Trends and Mitigation Strategies

Abstract

The increase of ransomware targeting the Internet of Things (IoT) is among the most significant challenges in cybersecurity. IoT devices are used extensively in healthcare, manufacturing, and smart structures due to their various functions. Thus, they are attacked because of their known vulnerabilities, such as limited resources, old firmware that has not been updated for years and poor security settings that become attractive targets for today's advanced ransomware attacks. Most importantly, the IoT involves several systems in various technologies, meaning that the controls of one device can compromise several systems, thereby disrupting IoT networks all over the globe. This paper gives an overview and evaluates the trends that characterize IoT ransomware, such as double and triple extortion strategies, a comprehensive state-of-the-art review of the evolution of ransomware, current practices of managing the risks inherent in the IoT system and the key challenges in mitigating ransomware in IoT devices. The paper concluded with recommendations for mitigating ransomware in IoT devices

Keywords: Ransomware, Internet of Things (IoT), Cyber-Attack, Threat Analysis.

DOI: 10.7176/JIEA/15-2-01

Publication date: May 28^th 2025