Post
Topic
Board Bitcoin Discussion
Re: Ransomware and Bitcoin
by
bixiiMaphi321
on 30/09/2021, 16:36:26 UTC
Ransomware is a type of malware that prevents users from accessing their systems or personal data and demands ransom payments to regain access. Ransomware is very dangerous because, a properly deployed ransomware, recovering data without the decryption key is an extremely difficult problem. In addition, it is difficult to track the digital currency flows used to pay the ransom, making it difficult to track down and prosecute the perpetrators. While ransomware has technically been around since the '90s, it's only within the past five years that it has really taken off, mainly due to the availability of untraceable payment methods like Bitcoin. Bitcoin is particularly useful here because it's fast, reliable, and easily verifiable. Hackers can simply look at the public blockchain to see if and when the victim has paid; he can even create a unique billing address for each victim and automate the process of unlocking their files when a bitcoin transaction is confirmed to that unique address. A convenient, fast, reliable and anonymous form of cryptocurrency payment like Bitcoin or other anonymous digital currencies is a gold mine for hackers to exploit for profit from illegal activities. France. It is very difficult to trace and know who is the hacker, who is the criminal and who is the normal user. This becomes an effective payment tool that explodes the development of ransomware in particular and other anonymous cybercrime activities.