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Ransomware attacks on businesses and individuals have risen dramatically in recent years. But what is ransomware?

posted Apr 22, 2016, 11:39 AM by Maurice Nyamoti   [ updated Apr 22, 2016, 11:40 AM ]

ransomwareRansomware is a type of malicious software designed to block access to a computer system until a sum of money is paid.

Grayson Barnes had just started working at his father’s law firm in Tulsa, Oklahoma when a note popped-up on one of the computer screens. It informed him that all the files on the firm’s digital network had been encrypted and were being held ransom. If he ever wanted to access them again, he had to pay $500, in the Internet currency Bitcoin, within five days. If he didn’t, the note concluded, everything would be destroyed.

“It wasn’t just a day’s worth of work,” Barnes told TIME. “It was the entire library of documents, all the Word documents, all the Excel.” Read More ...