Malware that breaches computer security, replaces access to files, and requests the computer user to pay a ransom to recover ownership and access of files.
Ransomware refers to a type of malware designed with the sole purpose of taking control of a user’s computer files. Once the malware enters the system, it locks down the original user’s access to the computer and then asks them to pay a certain amount of money or the files will be destroyed or sensitive information will be released to the public. Usually, said payment is instructed to be made in crypto to mess up the money trail.
Successful ransomware attacks are often small-scale. However, large-scale attacks have taken place and shut down mega businesses and banks, among others.