Abstract
Ransomware is a major malware attack experienced by large corporations and healthcare services. Ransomware employs the idea of cryptovirology, which uses cryptography to design malware. The goal of ransomware is to extort ransom by threatening the victim with the destruction of their data. Ransomware typically involves a 3-step process: analyzing the victim's network traffic, identifying a vulnerability, and then exploiting it. Thus, the detection of ransomware has become an important undertaking that involves various sophisticated solutions for improving security. To further enhance ransomware detection capabilities, this paper focuses on an Application Programming Interface (API)-based ransomware detection approach in combination with machine learning (ML) techniques. The focus of this research is (i) understanding the life cycle of ransomware on the Windows platform, (ii) dynamic analysis of ransomware samples to extract various features of malicious code patterns, and (iii) developing and validating machine learning-based ransomware detection models on different ransomware and benign samples. Data were collected from publicly available repositories and subjected to sandbox analysis for sampling. The sampled datasets were applied to build machine learning models. The grid search hyperparameter optimization algorithm was employed to obtain the best fit model; the results were cross-validated with the testing datasets. This analysis yielded a high ransomware detection accuracy of 99.18% for Windows-based platforms and shows the potential for achieving high-accuracy ransomware detection capabilities when using a combination of API calls and an ML model. This approach can be further utilized with existing multilayer security solutions to protect critical data from ransomware attacks.