Recent ransomware attacks define the malware’s new age

History of ransomware

Ransomware, a type of malware that holds data for ransom, has been around for years. In 1991, a biologist spread PC Cyborg, the first ransomware, by sending floppy disks via surface mail to other AIDS researchers, for instance. In the mid ’00s Archiveus was the first ransomware to use encryption, though it’s long ago been defeated and you can find its password on its Wikipedia page. In the early 2010s, a series of “police” ransomware packages appeared, so called because they purported to be warnings from law enforcement about the victims’ illicit activities and demanded payment of “fines”; they began to exploit the new generation of anonymous payment services to better harvest payments without getting caught.

In the 2010s, a new ransomware trend emerged: the use of cryptocurrencies as the ransom payment method of choice by cybercriminals. The appeal to the extortionists is obvious, as cryptocurrencies are specifically designed to provide an untraceable, anonymous payment method. Most ransomware gangs demanded payment in bitcoin, the most high-profile cryptocurrency, although some began shifting their demands to other…