This year has seen the escalation of many existing types of online crime and the introduction of entirely new exploits – including extortion – as criminals push into micro-payment revenue models and further diversify their revenue streams.
The most recent example of this is the LoroBot ransomware that encrypts popular file extensions on the users computer then demands a $100 for the decryption software.
If your computer becomes infected with the LoroBot, you may find yourself unable to open your documents, spreadsheets, photos, pdf’s and other common file types and instead see a ransom note informing you that your files have been held hostage (Image from ZDNet).
According to researchers from CA who found the ransomware, this particular bot appears to be mostly a bluff, but it demonstrates a new tactic in the ransomware arena which to date had focused primarily on locking users out of their computers entirely.
As the price to obtain ransomware continues to drop in underground markets, (average price is between $15 and $30) more cybercriminals will leverage these tools – and drive the demand for more exploitive innovation in this area.
Read the full article New LoroBot ransomware encrypts files, demands $100 for decryption on ZDnet.