The roles of cryptocurrencies such as bitcoin in the growth of cyber-extortion involving ransomware.
The paper is expected to cover the following:
- Recent growth in ransomware and cyber-extortion with some examples
- Why cyber-extortionists demand that ransom be paid by cryptocurrencies such as bitcoin
- What types of victims are likely to comply with cyber-extortionists demand to pay ransom with bitcoin?
- Assume that you are the CEO of a bank. All of your bank's files have been encrypted by cybercriminals. You received an email from the cybercriminals that they will decrypt the files only if you pay $30,000 by bitcoins. How would you respond? Why