To put it simply, CryptoLocker encrypts the files on the computer and holds them for ransom. There is only one private key available to unencrypt the public key and it is stored on a secret server with a time bomb set to destroy the key if the ransom isn't paid by the deadline. Depending on the version, the ransom is $100 to $300 with a deadline for payment of between ~72 to 100 hours.
Additional information an references are available in my blog post, CryptoLocker Ransomware.
Additional information an references are available in my blog post, CryptoLocker Ransomware.