What is ransomware?

Ransomware is malware that can lock a device or encrypt its contents in order to extort money from the owner in return for restoring access to those resources. This kind of malware can also have a built-in timer with a payment deadline that must be met. In this case, the price for unlocking the data and hardware will increase with time, and the information and the device will ultimately be rendered permanently inaccessible if payment isn’t made.

Among the well-known examples of ransomware affecting desktop computers are WannaCry, Petya, XData, Reveton, CryptoLocker, CryptoWall and TeslaCrypt. Those affecting mobile platforms include Simplocker and LockerPin.