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Up to now few years, we’ve seen a gentle enhance in ransomware assaults which have shut down utilities, producers and hospitals. That is extortion on a worldwide scale. However protection in The Seattle Instances has failed to focus on the important thing reality that will assist readers perceive this risk.
With out exception, the criminals behind these assaults are demanding cost in cryptocurrency — the REvil syndicate behind the newest ransomware is demanding Bitcoin value $70 million. That is the important thing expertise that permits ransomware, as a result of it’s the one method that criminals can safely and anonymously obtain extortion funds anyplace on this planet. The expansion of ransomware as an business has paralleled the expansion of cryptocurrency.
Cryptocurrency shouldn’t be helpful for mundane transactions like shopping for a pizza, and it’s too risky to function a retailer of worth. As an funding, it has many of the properties of a Ponzi scheme. The one place the place Bitcoin and different cryptocurrencies have proved their worth is enabling felony transactions. Any makes an attempt to stem the flood of ransomware are doomed to fail with out monetary regulation that addresses the foundation of the issue.
Warren Okay. Jones, Seattle
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