What is Ransomware as a Service (RaaS)?

Ransomware as a Service (RaaS) is typically a software-based program developed by malicious online cybersecurity experts that is sold to less knowledgeable cybercriminals in order to attack unsuspecting users with the goal of stealing sensitive data. Hackers often advertise their "service" on online marketplaces within the dark web and may ask to be paid in cryptocurrency for their products and services.