Link: How cloud computing, AI, and geopolitics could shape the evolution of ransomware, which could cost victims $265B annually by 2031, as the AIDS Trojan turns 35 (Ryan Browne/CNBC)

Ransomware, now a billion-dollar industry, has significantly evolved since its inception in the 1980s. Initially just a theoretical concept, the first attack involved mailing floppy disks that encrypted files and demanded payment.

The emergence of cryptocurrencies has revolutionized ransomware, making transactions untraceable and secure for criminals. By the early 2010s, ransomware attacks demanding crypto payments, like CryptoLocker, became more prevalent.

Ransomware technology has not only grown in complexity but also in its delivery methods, shifting towards ransomware-as-a-service models. This method allows even novice hackers to carry out attacks by purchasing services from experienced developers.

Experts predict that ransomware will continue to grow, with potential annual costs to victims reaching $265 billion by 2031. As the technology advances, AI and cloud computing are expected to play significant roles in its evolution.

Although AI could potentially lower the barrier for cybercriminals, the simplicity of current attacks remains most effective. Meanwhile, targeting cloud systems could become a major future threat as hackers look to exploit these technologies.

The blending of ransomware with geopolitical strategies is likely, as criminals and nation-states increasingly use cyber attacks for leverage. The ransomware industry's methods may evolve, but the core technology will likely remain stable in the near future. #

--

Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.