After the ransomware attacks of today, in which it appears at least 50,000 systems (including those of UK’s NHS, Santander & Caterpillar) were affected by a worm demanding Bitcoin as ransom, I thought of compiling some resources which build the case that ransomware is a growing trend disrupting digital business as usual in a major way, and, in turn, a source of growing inelastic demand for Bitcoin.
Here’s the story of what is happening today (click to read tweetstorm):
After 2015 generated revenues of $25 million in Bitcoin for ransomware attackers, the year 2016 was the breakthrough year for the malignant technology:
Some more information about who is targeted and how often they get hurt:
The attacks persisted in 2017:
Given the high sophistication, growing market share in the malware space, and its rising attack frequency, I think it’s apt to refer to ransomware hacking as a fast evolving, disruptive cybercrime industry:
Here’s how I see ransomware in the big picture:
In the medium term, I only see the attacks increase in intensity, and I see the phenomenon as a driver of demand for Bitcoin:
If you wake up with your system affected by a ransomware attack, pay a visit to nomoreransom.org, a website dedicated to helping victim of this crime.