Ransomware developers even named one of their Trojans “TorrentLocker” after the BitTorrent application itself. This has given ransomware authors a new mechanism to transfer large files and malware over the Internet. The proliferations of peer-to-peer (P2P) networks or P2P file sharing protocols like BitTorrent.The advent of Bitcoin (in 2009) and other digital/virtual currency has allowed ransomware authors to extort money from users anonymously.The recent rise in ransomware scams can be attributed to several things:

To further complicate matters, criminals often ask victims to pay the ransom in bitcoin or with payment vouchers. This type of Trojan typically targets Windows-based systems, but has evolved to include other systems and devices. The very nature of the word “ransomware” suggests financial gain is the primary motivating factor for cybercriminals to distribute such malware.

Ransomware is malicious software (malware) that renders a victim’s computer or network data temporarily or permanently inaccessible unless a “ransom” is paid within a specified period of time. Ransomware has been around since at least 1989, but there has been an exponential rise in cases within the last three years and in the past year, ransomware has cost businesses around $18 million.

Crypto locker names