Ransomware is one of the most common types of malware attacks, and it can cost an organization millions of dollars if they are affected by it, in 2023, 20% of all cyber attacks involved ransomware. Ransomware is where a hacker will lock a user out of their computer and demanding a ransom for the user to pay in order for the user to regain access to their device. But even if the person pays the ransom, the hacker may still not give the user access to their device in which they are called wipers, or destructive ransomware. 

In recent years, ransomware has evolved to have double extorsion and triple extorsion that makes the stakes even higher. Double-extorsion is where the hacker will threaten to steal the victim's data and leak it online which is called leakware, and triple extorsion is where the hacker will use data, they have stolen to threaten the victim's customers or business partners. Another type of ransomware is scareware, where a hacker will pretend to be part the law enforcement, or pretend the user has a virus to scare them into paying the ransom.

  • There is $57 billion in ransomware damages annually
  • $1.32 million mean ransom demand