Years back I started studying the history and economics kidnapping & ransom, highseas piracy, and the resulting K&R insurance industry. The evolution of these “markets” I thought would help me understand and anticipate the evolution of the eventual ransomware market — it did.

One major difference is scalability. Ransomware criminal groups can run several major operations at a time, unlike in K&R. Crypto-currency eased the exchange rather than dropping hard currency into the ocean tied to a bouhey. And no physical contact to get caught by LEOs.