Ransomware, a malicious software type leveraging cryptography, has evolved into a significant global cybersecurity threat. This paper explores the use of symmetric, asymmetric, and hybrid encryption techniques in ransomware attacks and its impacts. Symmetric cryptography is favored for its speed, while asymmetric systems provide enhanced key security. Hybrid systems, combining the strengths of both, offer the most effective encryption method for ransomware operations. Through analysis of notable ransomware like Jigsaw, Archiveus, and WannaCry, this paper highlights their cryptographic methods, impact, and operational strategies. The study underscores the importance of robust countermeasures, including updated cybersecurity protocols and awareness, to mitigate ransomware risks. Additionally, the paper evaluates the role of evolution in ransomware attacks, including the importance of cryptocurrencies enabling anonymous ransom payments. The findings emphasize the need for comprehensive strategies that incorporate both technological advancements and human-centered approaches to cybersecurity. By addressing these challenges, individuals and organizations can reduce the frequency and severity of ransomware attacks.