virus zips up files, then demands ransom

[adrian]

Source/full article

Virus hunters have discovered a new Trojan that encrypts files on an infected computer and then demands $300 in ransom for a decryption password.

The Trojan, identified as Cryzip, uses a commercial zip library to store the victim's documents inside a password-protected zip file and leaves step-by-step instructions on how to pay the ransom to retrieve the files.

Another reason to backup frequently.