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How Do Ransomware Criminals Make Their Money

Have you heard reports about cyber attacks, but have no clue how ransomware criminals make their money? Find out how they target individuals.

Chances are, you’ve seen a news report or have possibly been exposed to a virus or ransomware attack at some point while online. If your phone is suddenly behaving oddly, it’s a good idea to use dfndr security’s full virus scan feature to check your phone for hidden malware. This can help you to quickly remove any dormant or silent viruses that may put your information at risk to hackers:

But have you ever wondered how the perpetrators behind those hacks and programs make their money? By understanding what they do to extort information and earn their money, you can better prepare yourself against future attacks, and know the warning signs to watch out for.

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Step 1: Hacking Into the Device
The first step for any hacker is to get access to your device or your information. This can be done through software or through a tracker that has been installed on a sketchy website. It can come from a variety of programs or apps that may be vulnerable — which is one reason to make sure that you constantly update your devices. Once that area has been exposed, it can be identified and targeted for installing the ransomware onto your computer or phone.

Step 2: Extort the Device Back to the Owner
Once installed or hacked, hackers and ransomware criminals will try to extort your information for money, likely by emailing you or demanding a form of payment from you, if you want your data kept safe and restored. An example is a famous case involving the HBO hackers, who demanded money from HBO to prevent them from releasing new Game of Thrones episodes.

Oftentimes, criminals will demand payment in the form of Bitcoin, a digital currency that can’t be tracked, so their information won’t be revealed. This form or ransom payment allows cybercriminals to continue doing this to other unsuspecting victims. If you refuse to pay, oftentimes it isn’t worth it for the criminals to continue extorting.

With the knowledge of how ransomware hackers make their money, you can take better steps to prepare yourself against attacks and prevent your information and devices from being compromised. Make sure to be aware of how ransomware attacks work and to report to the authorities when you’re being extorted. More importantly, make sure that you browse safely to ensure that you won’t get a virus or malware to begin with by downloading a reliably performing antivirus app. You can have peace of mind knowing that the security of your device has safeguards in place.