What’s worse is, with some attackers, you might not even regain access to your files after you pay the ransom! How Does Ransomware Enter Your System?
The two prominent corporations had to pay the ransom in Bitcoin to recover their operating systems.Īlthough they eventually got their data back, they had to shell out a HUGE amount of money in the process. You might’ve even heard about recent ransomware attacks on JBS and Colonial Pipeline. Let’s ExplainĬurrently, average ransom demand costs are around $170,000, but some big firms have paid millions of dollars to regain access to their data.
Why? Because they usually deal with sensitive data AND have the means to pay the ransom. To get the decryption key, you have to pay a certain amount of money to the attackers-hence, the term ‘ransomware.’Ĭybercriminals typically use ransomware to infiltrate a network of connected computers in an organization or company. Ransomware is a type of malicious software (or malware) that encrypts computer files, so you no longer have access to your data. Example of CTB Locker, a variant of CryptoLocker
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