Ransomware isn’t new, but it’s increasingly popular and profitable.
The concept is simple: Your computer gets infected with a virus that encrypts your files until you pay a ransom. It’s extortion taken to its networked extreme. The criminals provide step-by-step instructions on how to pay, sometimes even offering a help line for victims unsure how to buy bitcoin.
The price is designed to be cheap enough for people to pay instead of giving up: a few hundred dollars in many cases. Those who design these systems know their market, and it’s a profitable one.
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