Cybercrime is not only a social ill but it does also pose a tremendous threat to our virtual world of personal, corporate and national data security. The recent global cyberattack of WannaCry ransomware has created an adverse effect on worldwide financials, healthcare and educational sectors, highlighting the poor state of cyber security and its failure. This growing class of cyber attackers is gradually becoming one of the fundamental security concerns that require immediate attention of security researchers. This paper explores why the volume and severity of cyberattacks are far exceeding with the capabilities of their mitigation techniques and how the preventive safety measures could reduce the losses from cybercrime for such type of attacks in future. It further expresses the need to have a better technological vision and stronger defenses, to change the picture where human cognition might be the next big weapon as a security assurance toolkit.