The Growth of Ransomware attacks is Exponential

Hackers who are spreading ransomware are getting greedier. In the 2016,  average ransom demand to free the computers hit with infection rose from $294 the year before, to US$1,077, according to the security firm Symantec.

“The attackers clearly think that there is more to be squeezed from the victims,” Symantec said in their Wednesday report.

In addition, this the security firm has detected more ransomware infection attempts. Just in 2016, they figure jumped by 36 percent from the prior year.

That does not bode well for public. The ransomware is famous for taking over the top computers, and essentially holding them as hostage. To do so, the malicious code encrypts all the important data inside, and then demands them to pay the ransom, usually in the bitcoin, in exchange for the release of the machine.

“More and even more attackers are now jumping on ransomware bandwagon and creating some new ransomware families or modifying the existing ones,” said the security firm.

Helping to fuel ransomware boom is digital black market where hackers can sell their ransomware kits for as little as $10 to as much as $1,800, making it easier for the other cyber criminals to join in.

Fortunately, the ransomware attacks can also be very easily dodged. For instance, consumers should wary around their email spam, which remains as the popular way for the hackers to spread ransomware, Symantec said.

Cyber criminals will often bundle their emails with attachments that can secretly download the ransomware onto a computer if the emails are opened. “In many cases, the victim would receive a spam email designed to appear like an invoice or receipt from a company,” Symantec said.

Bad actors will also spread ransomware through exploit kits, or automated hacking toolsets, that operate on tampered websites.

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