Glossary > Ransomware

Ransomware

What is ransomware?

Ransomware is a kind of malware that encrypts files on a computer leaving them inaccessible to the users.

After successfully locking up the files, the attacker will start correspondence with the victim. The attacker offers to send the decryption file in exchange for funds, often cryptocurrencies.

Ransomware has been plaguing the cryptocurrency space lately. Even large global organizations paid high amounts of cryptocurrencies to ransomware attackers, for example, colonial Pipeline.