Ransomware
Also known as: Crypto Ransom Attack, Malware Extortion, Encrypted File Threat
A type of malicious software that encrypts files and demands cryptocurrency payment to restore access.
Ransomware is a form of malware that locks or encrypts a victim's data and demands payment, often in cryptocurrency like Bitcoin or Monero, in exchange for decryption. These attacks target individuals, businesses, and governments and are increasingly sophisticated. Blockchain’s pseudonymity makes crypto appealing to attackers, complicating traceability. While ransomware is not inherent to blockchain, the ecosystem is often exploited in ransom payment flows. Law enforcement and cybersecurity firms work to track payments using blockchain analytics tools, and initiatives like wallet blacklists aim to combat crypto-enabled cybercrime.