A term used by Adam Young and Moti Yung to describe malware that encrypts the victim’s important data before demanding ransom to decrypt it.
Published in Chapter:
Ransomware: The Cyber Extortionist
Rajashree Chaurasia (Government of NCT of Delhi, India)
Copyright: © 2018
|Pages: 48
DOI: 10.4018/978-1-5225-4763-1.ch003
Abstract
“Ransomware” is a type of malware that tries to extort money from its victims by hijacking the victim's computer in some way and holding it to ransom. It renders the computer unusable until a ransom amount is paid to the extortionist. And it is very unfortunate that, in many cases, even after the ransom is paid, the victim's computer is not released. Ransomware, as we know it, is gaining popularity at an immense rate among the most notorious cyber-criminals of the world. It isn't just a virus, it's a damned good game plan to becoming a millionaire in a matter of months! This chapter details what ransomware is, how it originated, which families of attacks it falls under, how ransomware is classified, the impact of ransomware on a global scale, the life cycle of a typical ransomware attack, mitigation and containment strategies, trending strains of 2017, and future trends in ransomware attacks. In future, these attack types will dominate our industries and wreak havoc, destroying life and property, if left unchecked.