Which type of malware encrypts files on a victim's computer and demands payment for the decryption key?

Ransomware is a type of malware specifically designed to encrypt files on a victim's computer, rendering them inaccessible to the user. Once the files are encrypted, the attacker typically demands a payment—often in cryptocurrency—in exchange for the decryption key that would unlock and restore access to the files. This payment demand creates a critical situation for the victim, who may feel pressured to comply in order to recover important data.

While malware is a broad term that encompasses various types of malicious software, ransomware falls under this category with its unique characteristics of encryption and extortion. Phishing involves tricking individuals into revealing sensitive information or downloading malicious software, but it does not typically involve file encryption or ransom. Cryptojacking is a different type of malware that involves hijacking a victim's computer resources to mine cryptocurrency without the user's consent. Thus, ransomware is the precise term that describes the specific behavior and goal of encrypting files and demanding payment for their decryption.