Want to Stop Ransomware Attacks? Ban Bitcoin and Other Cryptocurrencies. ...Middle East

The New Republic - News

Let’s say you’re a hacker who wants to extort money from a big corporation. A decade or two ago, you might have hacked into their systems, stolen some data, and sold it for pennies on the dark web or demanded money for its return. But how to get paid? No bank would accept such a wire transfer. The cinematic version—a bag of nonsequential bills dropped off in a public park or handed to a passing courier—is too risky. The key part of the plan, actually getting money, is the toughest to pull off.Now, as seen in this week’s ransomware attack on JBS, the world’s largest meat processor, there’s a relatively safe way to extort companies: cryptocurrencies. “Cryptocurrency provided the perfect answer

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Last updated : 02 June 2021 clock 09:01 PM

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Want to Stop Ransomware Attacks? Ban Bitcoin and Other Cryptocurrencies. ...Middle East

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