Cryptocurrency and Ransomware Attacks!
In recent years the ransomware attacks have come back hacking, stealing and encryption
data of millions of users. Ransomware attacks are on its peak and surely they
demand money as ransom after hijacking systems. Cryptocurrency and ransomware are deeply linked with each other.
When we
come to know about cryptocurrency, we find it as the safe shelter to store
money without being in the notice of the law and enforcement agency of the
country. Cryptocurrency has also been used for many illegal acts like money
laundering and terror financing.
Similarly while attacking any computer by ransomware, the attacker finds it the best place to demand a ransom. Most of the ransomware companies
are demand money in cryptocurrency such as bitcoin one coin etc. WannaCry
Ransomware has been the biggest attack so far. It infected a lot of computers and
encrypted their data by demanding the ransom of $300 in BTC (bitcoin) which
also questions the role of the cryptocurrency in ransomware attacks.
However, by following the tips to save your computer from ransomware, you can easily make and more your computer more secure.
Ransomware as a Service
Today
ransomware also being offered as a service where the attacker sells a different kind
of ransomware and in return gets the money. Many of the sellers also offer their
nasty services on Craigslist and demand money in bitcoin (The Most Popular Cryptocurrency). This ransomware is so much simple to be easily be used by the layman
buyer. So, in the end, the buyer uses it for disruptive purposes such as attacking
the computer systems of its competitors.
This
doesn’t mean that the cryptocurrency is responsible for this ransomware attacks but it is also an inevitable truth that attacker find these platforms
as a shelter for their money exchange. Cryptocurrency uses the blockchain to
store the online data of the different transactions through different bitcoin
wallet addresses so the transactions can’t be traced easily.
As
bitcoin mostly ensures the anonymity, the money can’t be traced easily,
therefore, most of the time it is almost impossible to follow the money for law
enforcement agencies. However, the transactions can be traced if
cryptocurrencies are regulated. Therefore,
the cryptocurrencies are needed to be regulated properly so that the positive
use of cryptocurrency may be ensured.