A Prevention and a Traction System for Ransomware Attacks

Over the past three years, especially following Wanna-Cry malware, ransomware has become one of the biggest concerns for private businesses, state, and local government agencies. According to Homeland Security statistics, 1.5 million ransomware attacks have occurred per year since 2016. Cybercriminals often use creative methods to inject their malware into the target machines and use sophisticated cryptographic techniques to hold hostage victims' files and programs unless a certain amount of equivalent Bitcoin is paid. The return to the cybercriminals is so high (estimated $1 billion in 2019) without any cost because of the advanced anonymity provided by cryptocurrencies, especially Bitcoin [1]. Given this context, this study first discusses the current state of ransomware, detection, and prevention systems. Second, we propose a global ransomware center to better manage our concerted efforts against cybercriminals. The policy implications of the proposed study are discussed in the conclusion section.