Ransomware: Emergence of the cyber-extortion menace

Abstract

Ransomware is increasingly posing a threat to the security of information resources. Millions of dollars of monetary loss have been afflicted on end-users and corporations alike through unlawful deployment of ransomware. Through malware injection into end-user devices and subsequent extortion of their system or data, ransomware has emerged as a threat requiring immediate attention and containment by the cyber-security community. We conduct a detailed analysis of the steps of execution involved in ransomware deployment to facilitate readiness of the cyber-security community in containing the rapid proliferation of ransomware. This paper examines the evolution of malware over a period of 26 years and the emergence of ransomware in the cyber-threat landscape. Key findings on the evolution of ransomware and its use of emerging technologies are presented.