A report released by Carbon Blacky revealed that ransomware market on the dark web has risen to $6.24 million during 2017, compared with just over $249,000 in 2016, an increase of 2,500%.

Ransomware payments amounted to about $1 billion in 2016, up from $24 million paid in 2015, according to FBI figures.

Carbon Black estimates that about 6,300 vendors of ransomware exist on the dark web, with more than 45,000 listings. These are websites where anyone can buy anything from software for $1 that can lock up a smart phone to customized ransomware packages complete with source code for $1,000 or more.

The rise in the ransomware marketplace has been influenced by cryptocurrencies, the preferred means of ransom payments, not only because of the difficulty of tracing the transactions, but because of the skyrocketing values of the virtual currencies. Over 2016, the price of one bitcoin ranged between $300 & $950. But in 2017, the price of one bitcoin surged 388% to a recent high of just over $4,900.

The root of the problem appears to be classic when it comes to ransoms: The more people pay them, the more criminals will try to exploit them.