Ransomware is malicious software designed to encrypt files or systems, denying users access to their data until a ransom is paid.

Ransomware attacks often involve hackers demanding payment in cryptocurrency, typically Bitcoin or other digital currencies, as these transactions can be relatively anonymous and difficult to trace.

Cybercriminals exploit vulnerabilities in computer systems or networks, infecting them with ransomware, encrypting critical files, and demanding payment, usually in cryptocurrency, in exchange for providing decryption keys.

Cryptocurrency in these attacks allows perpetrators to remain anonymous, potentially making it challenging for law enforcement agencies to track the flow of funds or identify the individuals behind the attacks.