Ransomware demands exponentially increase, averaging $1.5 Million this year

Neon letters spelling RANSOMWARE set against a dark background with red and blue circuitry.

Ransomware operates primarily by encrypting files on the victim’s infected system, rendering them inaccessible to the user. The attacker then demands a ransom, often payable in cryptocurrencies like Bitcoin.

A recent survey from Zscaler [PDF] shows that there has been a huge surge in ransomware activities and this year is projected to be a record year for ransom payments.