New ransomware CoinVault allows users to decrypt one file for free

Cybercriminals behind a new ransomware program called CoinVault are trying out a new psychological tactic to convince users to pay up — freebies.

The new threat was discovered by security researchers from Webroot and is similar in functionality to more prevalent ransomware programs like CryptoWall. It uses strong 256-bit AES encryption with keys stored on a remote server, it kills the Windows Volume Shadow Copy Service so that users can’t use it to recover their files and only supports Bitcoin as a payment method.

Users are asked to pay 0.5 bitcoins — around $200 at the current exchange rate — in order to receive the key that decrypts their files, but the cost increases every 24 hours.

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