Bitcoin fuels ransomware epidemic, quadrupling in 2016

One night in April, Dave Winston, a member of the racing team , went to a convenience store and stuffed $20 bills into the ATM. He wanted to buy something he had heard about just a few hours ago. The computer files in his office were encrypted and locked by hackers. He had to buy Bitcoin equivalent to $500 to pay the ransom, which would of course affect the next race he would participate in.

Things like what happened to Winston are becoming more and more common. He was infected with ransomware. Hackers break into computer systems and encrypt all the files in the computer. Some hackers even post the files online if they see that the victim has no intention of redeeming the files. To get the files back, one can only follow the instructions and pay the money.

Although ransomware has been around since the 1980s, it is only recently that technological advances have led to an increase in the number of victims of ransomware this year. The invention of Bitcoin and improved encryption software have made ransomware a low-cost and low-risk crime compared to other crimes such as credit card fraud. Ransomware encrypts the victim's files and spreadsheets, making them completely unreadable.

Hackers often target computers in hospitals, enterprises and university networks, especially hospitals with low levels of information technology, which often become hackers' favorite attack sites. According to Cyence data, the average ransom for each case is $500 to $1,000. By 2016, the number of cases had quadrupled. Today, there are as many as 4,000 cases per day in the United States, forcing the U.S. federal government to jointly compile a manual to teach basic information security protection measures.

Mr. Winston did not know how the ransomware got on his computer, but security experts pointed out that ransomware often appears as a link or attachment in an email, tricking users into clicking or executing it, and then quietly installing it on the victim's computer. Since computers have become a common tool in offices, not every computer is well protected, and not every employee is so alert, hackers have more opportunities to make a lot of money, and have many opportunities to invade the system and infect all computers connected to the system.

Although law enforcement agencies generally do not encourage compromise with criminals, FBI personnel admitted at a security summit that victims may have to follow the criminals' instructions and pay the money. In the federal government manual mentioned earlier, it is mentioned that there are still risks after paying the money, such as hackers wanting more ransom, and they will only give the decryption key after paying a second ransom.

Winston's team was about to participate in a big race, and the locked files were mostly blueprints for the control of the car in different situations, such as how to adjust the springs, shock absorbers and steering wheels, which were very important for the performance of the racer. When he bought $500 worth of Bitcoin and transferred it to the hacker, the hacker did not ask for more ransom again. Winston received the decryption key and successfully unlocked the files in his computer. The big stone in his heart was finally put down, and the team successfully finished the race.