Just imagine yourself at waking up on some random day and seeing all your data being corrupted with a pop up on the left side of your system arises quoting that you have to pay thousands of bucks to get the access of your own system back.
As the time is passing the use of digital media has also been increased by attracting the users with numerous benefits and eye-catchy offers. This has contributed hugely in putting the world at the mercy of hackers and data thefts who demand millions and yet end up betraying the original user of the system. The idea off storing documents, pictures or video on electronic media or such socialising sites has also fed the hunger of system hackers and has also increased the exposure of people’s personal details.
Ransomware is basically malware designed software for corrupting and hacking of computer’s data and demanding the victim to pay handsome ransom in order to regain the accessibility. These viruses are easily injected through those innocent-looking attachments or ads which demands a simple click for the user and you will be stunned how you easily you got scammed.
History is full of such bitcoin ransomware attacks challenging the humans one after another. Some of the most commonly encountered malware design which has victimised a larger ratio of people across the world feature.
The blocker ransomware locks an individual from accessing his or her data by partially disabling computer files and the system can only be used for paying the ransom. The average estimated demand from this ransomware has been reached to $5 billion according to a study conducted in the year of 2017.
This malware deals on the concept of encrypting the essential documents, photos and videos of the user and set a timeline for paying the ransom. If the victim is unable to pay within the given time he or she will end up losing all the confidential data. The overall cost of ransomware damages for the year 2017 was estimated at around $5 billion and it is also predicted to extend $11.5 billion by the year 2019.
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Although the first modern ransomware was discovered in the year 2005 was called Gpcode but the problem was resolved earlier than it could have affected larger number of people whereas the year 2016 is marked as the year where all the hackers came up with masterly planned ransomware attacks which include the Petya attack in which computer’s system is encrypted that it harms the portion of hard drive, takes control over the file managing location and restricts the computer from booting up by indirectly snatching the access of files from legal user.
This malware is common among different cybercriminals who continue to use it and deny to give back access to victims even if all their demands are fulfilled. In the same year a study was conducted in Poneman institute in Michigan which highlighted that 60% of security professionals saw an increase in rate of ransomware infections. One of the recent google studies quotes that within the duration of past two years the bitcoin ransomware attacks have gained $25 million in different cases of ransoms.
In the year 2017, the world was prone to face the harmful effects of Wannacry which got the huge potential of destroying a system and strongly attacked the government networks of UK and Russia. This malware asked for $300 in bitcoins from the victims and the thing got worse when the victims claimed that they didn’t receive the access even after paying the ransom amount.
Some of the bitcoin ransomware attacks detected in the system ware called bad rabbit. This malware download gains access to the system when the user goes for downloading an application or file and clicks on some random link. It possesses the potential of eating up the whole system and can guess passwords for different user sites too. It demands the victim to pay $280 in bitcoins on a website which is only accessible through Tor browser. This has caused the most damage among all the ransomware attacks and still trending in the list of top ransomware attacks to date.
One of the most recent and biggest ransomware attacks in 2019 occurred in Baltimore called Robinhood. The hackers demanded 13 bitcoins which are estimated to $76,280 in which around 500,00 people were hacked within the time period of two years.
Hence the world strongly demands the need for strongly secured systems to reduce the rate of such bitcoin ransomware attacks and positively contribute to changing the history.
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