NYU Professor Finds $16 Million Impact of Ransomware

A recent study co-authored by NYU Assistant Professor of Computer Science and Engineering at the Tandon School of Engineering Damon McCoy found that ransomware — a type of computer software which encrypts users’ files and does not return them unless payment has been made — has generated approximately $16 million from over 20,000 victims of the cyber attacks throughout the two years the study was conducted.