Ransomware Cost Surpasses $25 Million Mark

Companies and individuals have paid more than $25 million over the past two years to try to get their computer data back from hackers who hijacked it. This is according to new research by Google about the phenomenon. Ransomware attacks use software that infects a target's computers and encrypts all the files so that the victims lose access. ... The research, conducted by Google, Chainalysis, University of California at San Diego, and New York University's Tandon School of Engineering, was presented Wednesday at the Black Hat security conference in Las Vegas. Chainalysis is a startup that monitors bitcoin transactions for customers.

(See more...)