Post
Topic
Board Bitcoin Discussion
Re: Could Ransomware Be Driving Up Bitcoin Prices?
by
lobat999
on 23/10/2019, 21:58:56 UTC
Research is suggesting that the number of ransomware incidents has risen in 2019. The payment method of choice for the majority of this cybercrime is cryptocurrency, predominantly bitcoin. Could BTC price fluctuations be linked to the increase in this online nefarious activity?

https://bitcoinist.com/could-ransomware-be-driving-up-bitcoin-prices/

I think this assumption is unfounded especially when the article mentioned a correlation between these "ransom incidents" and Bitcoin prices - positing the idea that big companies are buying up Bitcoin to prepare for such attacks. Smiley

And I find it quite confusing and ridiculous since companies allocating a huge amount of its money to buy up Bitcoin in preparation for ransonware attacks didn't make sense when ideally it could allocate that money to further strengthen its security so as not to be victimized by these types of malwares.

If you were the CEO of a company, would  you buy $1 million worth of BTC and wait for an attack or would you spend it to harden your computer systems defenses to avoid such attacks and maybe do contingency planning instead? Smiley