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Ransomware Threats Surge: Hackers Earn $1 Billion Annually

3/23/2026

25 3 Full Breakdown

Summary

Story summary

Modern ransomware encrypts data and demands payment for decryption keys, with 'double extortion' threats to auction stolen data.
In 1989, Joseph L. Popp Jr., the creator of the first Aids Trojan, initiated ransomware's emergence.
Anja Shortland, a crime-economics expert, estimates hackers earn about $1 billion annually, while victims incur about $57 billion.
Governments are urged to enhance cyber-hygiene and support for victims as the threat grows.

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Story summary

Modern ransomware encrypts data and demands payment for decryption keys, with 'double extortion' threats to auction stolen data.
In 1989, Joseph L. Popp Jr., the creator of the first Aids Trojan, initiated ransomware's emergence.
Anja Shortland, a crime-economics expert, estimates hackers earn about $1 billion annually, while victims incur about $57 billion.
Governments are urged to enhance cyber-hygiene and support for victims as the threat grows.