Ransomeware Expands Its Targets

Ransomware attacks have become a billion-dollar business for cybercriminals and are on the rise for individuals and institutions alike. Attackers already use ransomware to extort money from hospitals and corporations that need to regain control of their systems quickly, and the more success attackers have, the more they are willing to invest in development of new techniques. A recent ransomware version called Popcorn Time, for example, was experimenting with offering victims an alternative to paying up—if they could successfully infect two other devices with the ransomware. And more innovation, plus more disruption, will come in 2017. Ransomware attacks on financial firms have already been rising, and attackers may be emboldened to take on large banks and central financial institutions. And IoT ransomware could crop up in 2017, too. It may not make sense for a surveillance camera, which might not even have an interface for users to pay the ransom, but could be effective for devices that sync with smartphones or tie in to a corporate network. Attackers could also demand money in exchange for ceasing an IoT botnet-driven DDoS attack. In other words, ransomware attacks are going to get bigger in every possible sense of the word.

Wired Magazine: Wired Staff 01.02.17