No, a ransom is a fee paid for the release of something you value. Cryptography is one way to take a user's data, and release it back to them on payment.
This is blackmail. They want payment to not release something.
This is "the malware got in and sent copies back home; now home base is threatening release and expecting payment to prevent it." To me, this is blackmail done via hacking, not ransomware.
They copied the data, and they want money otherwise they will release it. It's ordinary blackmail.
> Ransomware is a type of malware from cryptovirology that threatens to publish the victim's data or perpetually block access to it unless a ransom is paid.
(added emphasis)
Here's the third sentence from that very same paragraph:
>It encrypts the victim's files, making them inaccessible, and demands a ransom payment to decrypt them.
Not everything can be explained in a single sentence.