Ransomware Concept
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Ransomware is on a rampage targeting industry and organizations. It is also and creating significant cybersecurity challenges. Ransomware is a type of malware cyber-attack where key files are encrypted encryption by hackers that renders data inaccessible to the victim. It is a criminal extortion tool and after an attack has occurred, the hackers will promise to restore systems and data when ransom is paid by the victims.
The use of ransomware by hackers to leverage exploits and extract financial benefits is not new. Ransomware has been around for over 2 decades, (early use of basic ransomware malware was used in the late 1980s) but as of late, it has become a trending and more dangerous cybersecurity threat. The inter-connectivity of digital commerce and expanding attack surfaces have enhanced the utility of ransomware as cyber weapon of choice for bad actors. Like bank robbers, cybercriminals go where the money is accessible. And it is now easier for them to reap benefits from extortion. Hackers can now demand cryptocurrencies payments or pre-paid cards that can be anonymously transacted. Those means of digital payments…
