What Is Crypto Ransomware? Everything to Watch Out For

Bittime - This article will take an in-depth look at what crypto ransomware is, how it works, and what you can do to avoid it.

What Is Crypto Ransomware?

Crypto ransomware is a dangerous type of malware that infiltrates victims' devices and encrypts their data.

The cybercriminals behind these attacks then demand ransom payments in the form of cryptoassets, such as Bitcoin, to restore access to the encrypted data.

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Are Crypto Ransomware Attacks Dangerous?

Crypto ransomware attacks can target individuals and organizations, and are often distributed through a “ransomware-as-a-service” (RaaS) model, where criminals provide tools and infrastructure to third parties to carry out attacks.

How Do Crypto-Ransomware Attacks Happen?

1. Malware Spread: Cybercriminals spread crypto-ransomware malware to victims' devices through various means, such as malicious links in phishing emails, hacked accounts, or software vulnerabilities.
2. Enkripsi Data: Once the malware is installed, it begins to encrypt all or some of the data on the victim's device. Most crypto-ransomware avoids important system programs and files to keep the device functioning.
3. Ransom Message: A ransom note containing payment instructions and the attacker's contact information was left on the device. This message can appear in a folder with encrypted files, as desktop wallpaper, in a browser, or via email. The ransom is usually requested in cryptocurrency.
4. Data Leak Threat: Since late 2019, a new tactic has emerged in which attackers steal victims' data before encryption. They then threatened to publish this data if the ransom was not paid. Ransomware that uses this tactic is known as leakware or doxware.

Encryption Methods Used by Crypto-Ransomware

Most crypto-ransomware uses hybrid encryption that combines symmetric (same key for encryption and decryption) and asymmetric (different keys for encryption and decryption) algorithms.

This approach allows fast file encryption with a symmetric algorithm, while the secret key is encrypted with an asymmetric algorithm. This eliminates the need for attackers to openly transfer or store the decryption key on the victim's device.

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Common encryption algorithms used include:

• Simetris: AES, ChaCha20, Salsa20, RC4
• Asymmetric: RSA, Diffie-Hellman (ECDH) elliptic curve

Famous Examples of Crypto-Ransomware

Some well-known examples of crypto-ransomware include CryptoLocker, Bad Rabbit, Petya, WannaCry, Conti/Ryuk, Hive, LockBit, Maze, REvil, and BlackCat.

Protect Yourself from Crypto-Ransomware Attacks

It is important to take steps to protect yourself from crypto-ransomware attacks. Here are some tips:

• Use a strong security solution: Install and update antivirus, anti-malware and firewall regularly.
• Back up data routinely: Periodically back up important data to secure offline storage.
• Be careful with links and attachments: Avoid clicking links or opening attachments in emails from unknown senders.
• Update software: Apply the latest security patches and updates to your operating system and software.
• Raise awareness: Learn about the crypto-ransomware threat and share knowledge with others.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via over. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at over, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SUN) and other cryptos to find out today's crypto market trends in real-time on Bittime.