Cyberextortion
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Cyber extortion involves attacking or threatening to attack a target and demanding money to stop the attack. Originally, denial of service attacks against websites were common, but now ransomware that encrypts victims' data and demands payment in bitcoin in exchange for the decryption key is prevalent. Cyber extortion can earn attackers millions annually. Most efforts start through malware in emails or websites, so users should be educated on phishing and back up devices regularly to mitigate risks.
Cyberextortion
- 1. Be aware of Cyber Extortion Cyber extortion is a crime involving an attack or threat of attack coupled with a demand for money to avert or stop the attack. Cyber extortion can take many forms. Originally, denial of service (DoS) attacks against corporate websites were the most common method of cyber extortion. In recent years, Hackers have developed ransomware which encrypts the victim's data. The extortionist's victim typically receives an email that offers the private decryption key in exchange for a monetary payment in Bitcoins, a digital currency. Cyber extortion can be lucrative, netting attackers millions of dollars annually. Most cyber extortion efforts are initiated through malware in e-mail attachments or on compromised websites. To mitigate the risks associated with cyber extortion, experts recommend that end users should be educated about phishing exploits and back up their computing devices on a regular basis.