Ransomware
Malware that encrypts a victim’s data and demands payment—often in cryptocurrency—for decryption.
Ransomware is malware that encrypts files, locks systems, or steals data and then demands payment for decryption or non-disclosure. Attackers often request cryptocurrency because it can be transferred globally, but payments are traceable on public blockchains and may be subject to legal restrictions.
Resilience depends on security basics: offline backups, patching, least-privilege access, multi-factor authentication, phishing training, endpoint monitoring, and a tested incident response plan. Paying is risky because decryption is not guaranteed and funds may support criminal activity.
Related terms
4 linkedExplore connected entries beyond the alphabetical index.
Privacy
→The ability to transact without revealing sensitive information about identity, balances, or counterparties.
Custodial Wallet
→A wallet where a third party controls the private keys on your behalf.
Non-custodial Wallet
→A wallet where you control the private keys, without relying on a third party to hold your funds.
Address
→A public identifier used to receive cryptocurrency on a blockchain network.
All terms and definitions may update as the Cryptionary improves.
