Ransomware is a form of malware that can freeze a company’s data. It allows hackers to demand a payoff in cash — or Bitcoin — in return for restoring a business’s functionality.
In the wake of the WannaCry hacking attacks, which crippled the UK’s National Health Service, British business leaders may prefer to pay a ransom rather than disclose data breaches and suffer through government audits, fines, customer dissatisfaction and reputational damage.
Even as Bitcoin prices have fluctuated around $18,000, some companies are loading their virtual wallets and bracing for the demand of a payoff.
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