Ransomware Cybercrime as a whole has increased 600% during the pandemic (Firch & Allen, 2021). Ransomware is predicted to be the most common type of cybercrime in 2021. So, what exactly is ransomware? Ransomware is a form of malware that encrypts and locks a device’s files (such as photos and documents), preventing a person from accessing those files, until a ransom (usually paid in cryptocurrency like Bitcoin) is paid to the hacker. Once the ransom is paid, a decryption key may be provided, allowing the victim to access their files again. If the ransom isn’t paid, hackers may sell the files to other cybercriminals, publicly name the victim, and/or release the files to the public.
Written by Rachel Adam Edited by Harini Akurathi & Uday Lingampalli Artwork by Sharon Pan Layout by Shoffana Sundaramoorthy According to Time Magazine, the countries with the most cybercriminals are Russia, China, Brazil, Nigeria, and Vietnam (Rayman, 2014). Most cybercriminals work in organized cybercrime rings instead of working alone. 86% of cybercriminals are after money (Sen, 2021), since personally identifiable information like credit card numbers, home addresses, and Social Security numbers are extremely valuable and easy to sell on the Dark Web. The value of financial data has increased from 2020 to 2021. For example, the account details for a credit card with an account balance up to $5000 was worth $20 in 2020, but worth $240 in 2021. However, other cybercriminals have a more sinister motive behind their attacks: to threaten the stability of various countries worldwide. Recently, there have been calls for U.S President Biden to pressure Russian President Vladimir Putin to crack down on cybercriminals for their recent ransomware attacks on U. S
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