Ransomware: A Rising Threat of new age Digital Extortion

What if someone stopped you from accessing your files or even using your computer? What if they demanded an amount to get the access back to you? With most financial and social interactions revolving around three critical aspects – firstly the use of digital data and files, secondly computer systems and last the unsecure internet. This is where Ransomware using Bitcoin has become a major cause of concern in form of a new age digital extortion threat to home and corporate user alike. In this paper we discuss Ransomware on the ways and methods adopted by cyber criminals to holding ransom an innocent user’s digital data and systems.