“Ransomware” has turned into a lucrative business for scammers, but it could jump from a troubling annoyance to life-threatening attacks.
The hack is typically targeted at computers, with scammers encrypting files on unwitting victims’ machines. They then demand a ransom — typically about $500, payable in untraceable Bitcoin — in exchange for a key that will decrypt the files. One new type of scam convinces consumers to download the malicious encryption software with the message “Your package has been delivered.”
Already this year, the pace of ransomware attacks has quickened. Security firm Endgame noted that a dozen new variations have been identified so far, compared with about 10 for all of 2015. Security experts say the frequency and type of ransomware attacks are only going to pick up, given that hackers are profiting from it.
One think tank is predicting that the types of attacks will eventually expand to the “Internet of things,” or Internet-connected devices such as cars and medical devices like pacemakers.
“Everything is connected now. It’s the Internet of everything,” said James Scott, senior fellow at the Institute for Critical Infrastructure Technology, which published the report on connected devices. “There are so many vulnerabilities that you can exploit.” For the full article click here
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