Ransomware continues to grow more sophisticated and lucrative, and now security firm LIFARS says operators have built a Silicon Valley-like VC ecosystem.
Over the past few years, ransomware operations have become increasingly sophisticated as they shake down everyday internet users, giant corporations, and government agencies for ransoms that can sometimes total in the millions of dollars. Now, according to the cybersecurity firm LIFARS, the underground world of ransomware is essentially developing its own venture capital ecosystem, with ransomware attackers pooling their funds to back new criminal operations in exchange for a cut of future earnings.