Ransomware Criminal Smart Contract

Decentralized cryptocurrencies like Bitcoin have surged in popularity, aiding numerous growing sectors. These cryptocurrencies are underpinned by blockchain technology, which facilitates distributed consensus on transactions. Cryp-tocurrency systems like Ethereum integrate Smart Contracts, a key component that empowers the execution of user-defined programs on transactions. It allows mutually distrustful parties to transact securely, removing the need for third-party intermediaries and leading to the rise of promising applications in domains such as gaming, finance, and governance. Unfortunately, it also enables illicit activities, giving rise to Criminal Smart Contracts (CSCs). Common examples of CSCs include distributed denial of service (DDoS) attacks, calling card crimes, and data leaks. In this work, we explore an application of CSCs in ransomware attack, a prevalent cyber threat that encrypts victims' files and demands a ransom for data recovery. With the growing preference for cryptocurrencies in ransom payments, ransomware attackers are likely to adopt Smart Contracts due to the anonymity and automated ransom collection advantages. Our paper introduces a novel protocol exploring the potential shift towards ransomware CSCs from centralized systems. We evaluate our protocol and show a high success rate for such attacks, underscoring them as an imminent threat. This high success rate highlights the potential effectiveness of CSCs, contradicting previous literature. We conclude by emphasizing the need for robust regulatory measures and technical solutions to effectively mitigate the risks associated with ransomware CSCs.