Bitcoin and Ransomware, these words appear more frequently in a single sentence these days than we wish for. Ransomware attacks have become a common occurrence these days. We had earlier reported the use of Advertising network by cyber criminals to propagate ransomware to the computers belonging to the readers of some of the leading news websites. There was also a report of ransomware attack on one of the hospitals in Kentucky etc. Most of these ransomware attack these days are followed by a demand for ransom in bitcoin, to be sent to a particular wallet address.
What is Ransomware?
Ransomware are malicious software applications also referred to as malware. These specific malware are designed to infiltrate the computers of unassuming victims and execute a program that renders all the information stored inside the computer useless by encrypting them. The encryption can be removed by using a related decryption key in the possession of the attacker. The only way to gain back access to these files is by sending the ransom in bitcoin in exchange for the decryption key.
Relation between Bitcoin and Ransomware
The popular misconception among many people is that the ransomware attacks are due to bitcoin. However, it is not true and