Democratized Breach Damage: The Economics Behind Ransomware
In this video, we explore the economics behind ransomware and how it has been democratized through the use of cryptocurrencies like Bitcoin. While the recent breach affecting multiple companies is concerning, the real interesting aspect is the commercial, professional cybercrime as a service economy that has emerged as a result. We discuss how the ability to monetize ransomware has led to its rise and how alternative forms of payment like Amazon vouchers were previously used before the widespread adoption of cryptocurrencies. It's not just about the technology aspect - the economics behind ransomware are equally fascinating.