Ransomware is a type of malicious software designed to block access to a computer system, and more importantly the critical data it contains, until a sum of money or ransom is paid. Attackers ask for payment in bitcoin, which makes the payments largely untraceable by investigators. Bitcoin plays an important role in the growth of ransomware attacks because it shields hackers from being caught through the electronic payments they receive.
Further Reading: Is Ransomware driving up the price of Bitcoin?
According to Datto, 1 in 5 SMBs have fallen victim to ransomware attacks in 2019. To prevent these ransomware attacks, do these things to protect your business and reduce the chances of falling victim to this all-too-common attack vector:
Related Readings:
Michigan School District Shut Down by Ransomware – Why Educational Institutions are Prime Targets
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Three Hospitals Shut Down Due to Ransomware Attack
Source: Oxford Dictionary