What is Ransomware?
Ransomware is a malicious malware attack in which a skilled hacker seizes its victim’s files in exchange for a sum of money. The hackers hold its victim’s files hostage until the ransom is paid in full.
Extortion on the Rise
The most common form of Ransomware is executed via crypto-ransomware which offers its victims a key to decrypt their stolen while after the ransom has been paid. Each ransom generally range between $300-500. Shockingly, 30% of ransomware victims pay the ransom in order to regain access to their files (Simon, 2015). Ransom notes are normally set so low that the victim normally just pays so they can return to work. Unfortunately, there is no guarantee that all files will be retrieved.
The ransom is most commonly paid in bitcoin for payments are difficult to track.
The most common devices that have been reported of ransomware are Android devices. Devices running Windows have been commonly known to fall victim to this attack although other operating devices are not 100% in the clear. Symantec has seen an increase in various versions of this malware has been created for other operating systems.
Simon, Ruth. " 'Ransomware' a Growing Threat to Small Businesses." WSJ. The Wall Street Journal, 15 Apr. 2015. Web. 16 May 2016.