How do ransomware attacks work? What is ransomware, and why is it bad?

Ransomware is a type of malicious software that encrypts a victim’s files or locks their system until a ransom is paid. It is considered a significant threat in cybersecurity because it can rapidly spread through networks and cause severe disruptions to businesses, organizations, and individuals. Ransomware attacks can result in data loss, financial damage, reputational harm, and even pose risks to critical infrastructure and public safety. The increasing sophistication of ransomware strains and the ability of cybercriminals to target high-value entities make it a particularly challenging threat to combat effectively.