The rise of cryptocurrencies has paved the way for an exponential rise in ransomware this past year. The perpetrators, who take over an organization’s or individual’s computer system and hold it ransom until a sum of money is paid, are protected by the anonymity of cryptocurrencies such as Bitcoin and Ethereum. According to a recent DomainTools survey of business and security executives, ransomware is the number one security concern keeping them up at night. The main reason a third of organizations are fearful of these attacks is the fact that hackers are becoming increasingly savvy. Concerns about impacts to brand reputation, financial damage and potential intellectual property loss also top of list of worries.
