How Researchers Are Fighting Back Against Ransomware

For too long, cybercriminals have been raking in billions of dollars from businesses around the globe through the use of crypto-ransomware. This is a specific type of ransomware that uses encryption technology to ‘scramble’ the data of its victims. The victim is then instructed to pay a ransom, by a specific deadline, to have their data decrypted. The threat is increasing. Global losses have risen from $5 billion in 2017 to an anticipated $11.5 billion by the time 2019 is out. New variants such as Phobos and Ryuk are now making the news with Los Angeles IT Consulting firm DCG Inc. revealing, in a recent blog post, that Phobos increased its prevalence by 940% through 2019. Worrying times!

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