Ransomware is perhaps the most ingenious cybercrime in the history of the Internet in terms of its simplicity and effectiveness . It has caused absolute terror in nearly every industry , affecting almost 50 % of organizations in 2016 , and is considered one of the top cyberthreats to the enterprise for 2017 . According to the FBI , ransomware — malware that holds systems and data for ransom Attack.Ransom — cost victims $ 209 million in the first three months of 2016 , yet totaled only $ 24 million in all of 2015 . This astronomical rise in ransomware is motivated , in large part , by a lack of preparedness . And the problem will get worse before it gets better . But in order to understand the rise of ransomware , you need to understand its economics . The Business of RansomwareTraditional data from major breaches Attack.Databreach is starting to be worth less and less as the black market gets flooded with stolen records . Just call a toll-free number and the problem is fixed in minutes . Even the cost of prized electronic healthcare records is down 50 % to 60 % from last year . But at the same time , the price per ransom Attack.Ransom has continued to climb , and much of the data being ransomed Attack.Ransom is completely worthless on the black market . Innovations in online payments have also helped pave the way for the current ransomware epidemic . Similar to how some sites are the middlemen for sellers , Web-based `` businesses '' started to appear in early 2016 to act as proxies for data extortionists to post Attack.Databreach sensitive stolen data to add urgency to payment demands Attack.Ransom , sell the stolen data to a third-party , or utilize it in other ways . These Web vendors use a `` Business 101 '' approach by providing an easy Bitcoin-based payment interface — currently worth $ 768 each ( at the time of writing this ) — and take a cut of every payment . Popularity Breeds PandemicBecause of ransomware 's massive success , its creators are pushing new technologies to their limits , with the potential to infiltrate every data storage device between the Internet and any given company . And with the massive success of Mirai — the Internet of Things botnet that took down a portion of the Internet last fall — connected devices are poised to become the next big target , translating into even more ransomware .