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  • Writer's pictureMichael Paulyn

What is Ransomware?

Ransomware is a particular type of malware that cybercriminals use to prevent a user or company from accessing their files or even network. The main difference is that these hackers use the threat of either leaking, destroying, or withholding this vital information unless a ransom is paid.

A ransomware attack can specifically target a computer system, also known as locker ransomware, or devices, such as crypto-ransomware. In either of these cases, a unique key or tool is used to unlock the device after the cyber-criminals receive the ransom. However, there's never a guarantee that every case will have a happy ending.

These cyberattacks have costs, and they're only rising year over year. From 2020, ransomware attacks went from $312,000 per incident. While incidents in 2021 rose to $570,000, that's an 83% increase in one calendar year.

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