Senator Hassan wants federal agencies to take more action, while Senator Lummis is more concerned about innovation being stifled.
Ransomware is a type of malicious software made for the extortion of money. In principle, the software works by blocking the whole computer system or access to a user’s data through file encryption and then demands a ransom from the victim. Ransomware attacks are mainly target large organizations, as they have a large amount of valuable information and are ready to pay for it. Currently, as cryptocurrency has become one of the most convenient and fastest ways of payment, a lot of companies buy digital currencies in order to escape quickly from a ransomware attack. Bitcoin has also become one of the most popular currencies that is demanded by extorters as payment because of its relative anonymity and speed of transactions.
The United States is offering crypto assets to incentivize white hat hackers to uncover state-sponsored actors and potential terrorists on the dark web.5583
The IT firm denies that it paid a ransom to the Russian hacker group in exchange for the decryption tool.2434
Michele Korver’s appointment to the U.S. Financial Crimes Enforcement Network promises to reduce illicit financial practices within the crypto space.2587
A blockchain-based healthcare platform is ramping up security even further, ensuring that patient files sent over its infrastructure are only viewed by the right professionals.947
Any ransom payments made in cryptocurrency are taxed as property rather than currency, so be aware of the U.S. tax implications.2878
Democratic Representative Bill Foster has called for legal power to identify wallet holders and reverse crypto transactions in instances of criminal behavior such as ransomware attacks.6500
CNBC’s Jim Cramer has sold off almost all of his BTC holdings, predicting bearish fundamentals will suppress Bitcoin’s price for the foreseeable future.8646
Joe Biden said that the U.S. and Russia might have the beginnings of a "cybersecurity arrangement that begins to bring some order" within the next year.2977
The FBI may have access to a lot more BTC in hacking group’s addresses.16681
Coinbase CSO says ‘good ol’ fashioned police work’ landed the FBI the private keys.10443
Government officials did not specify the exact method used to seize the funds from the ransomware group.29338
U.S senators voiced their opinions on the matter of cryptocurrency’s use in ransomware attacks.6878
Hackers will keep hacking as long as organizations are vulnerable — crypto is not an exception.20320
The task force has proposed new rules that would facilitate aggressive cryptocurrency tracing and tighter licensing requirements for businesses handling digital assets.6260