Radware, a provider of cyber security and application delivery solutions, has released its 2017-2018 Global Application and Network Security Report, which found that the percentage of companies reporting financially motivated cyber-attacks has doubled over the past two years, with 50% of surveyed companies experiencing a cyber-attack motivated by ransom in the past year.
As the value of bitcoin and other cryptocurrencies —often the preferred form of payment among hackers—has appreciated, ransom attacks provide an opportunity for hackers to cash out for lucrative gains months later.
