Issue link: https://insights.oneneck.com/i/1093615
CHAPTER 1 What Is Ransomware? 3 What Is Ransomware? R ansomware is the fastest-growing malware threat today and is already an epidemic. According to a U.S. government interagency report, an average of more than 4,000 ransom- ware attacks have occurred daily since January 2016. In this chap- ter, you learn about ransomware — what it is, how it's evolving as a threat, and how it works. Defining Ransomware Ransomware is malicious software (malware) used in a cyberat- tack to encrypt the victim's data with an encryption key that is known only to the attacker, thereby rendering the data unusable until a ransom payment (usually cryptocurrency, such as Bitcoin) is made by the victim. Cryptocurrency is an alternative digital currency that uses encryp- tion to regulate the "printing" of units of currency (such as bitcoins) and to verify the transfer of funds between parties, without an intermediary or central bank. Ransom amounts are typically high, but not exorbitant. For exam- ple, demands for individuals typically range from $300 to $600, while larger organizations will typically pay more. In 2016, a South Carolina school district paid an estimated $10,000 ransom and a California hospital paid approximately $17,000 to cybercriminals. These amounts quickly add up — more than $200 million in the Chapter 1 IN THIS CHAPTER » Identifying ransomware and its defining characteristics » Looking at ransomware trends » Seeing how ransomware works These materials are © 2017 John Wiley & Sons, Inc. Any dissemination, distribution, or unauthorized use is strictly prohibited.