Do Crypto-Currencies Fuel Ransomware?

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Nir B. Kshetri, Professor (Creator)
The University of North Carolina at Greensboro (UNCG )
Web Site:

Abstract: As ransomware spreads, victimization rates escalate. A Finnish cybersecurity firm’s F-Secure State of Cyber Security 2017 report stated that there was only one ransomware “variant” in 2012. This increased to 35 in 2015 and 193 in 2016.(1) Individuals, corporations, banks, educational establishments, hospitals, and government agencies have all been held hostage by ransomware and blackmailed into paying out in crypto-currency—typically, bitcoin—to retrieve their data.(2)

Additional Information

IEEE IT Professional
Language: English
Date: 2017
cybersecurity, crypto-currencies, bitcoin, WannaCry, ransomware

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