Ransomware attacks zoom as bitcoin’s use grows

According to the U. S. Department of Justice, ransomware attacks have quadrupled this year from a year ago, averaging 4,000 a day, reports the Wall Street Journal (WSJ).
Although ransomware dates back to the late 1980s, says the report, attacks spiked this year amidst the rising use of bitcoin and enhanced encryption software.
In a ransomware attack, computer files are encrypted and held hostage by attackers.
According to cyber risk data firm Cyence, typical ransomware payments range from $500 to $1,000, but some hackers have demanded as much as $30,000 per attack.

This post was published at Coin Report on 25 Aug 2016.

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