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Bitcoin ledger as a secret weapon in war against ransomware By Cointelegraph


Bitcoin ledger as a secret weapon in war against ransomware

Ransomware, malicious software that encrypts computers and keeps them locked until a ransom is paid, is the worlds fastest-growing cyber threat, according to Coinfirm. Attacks on vital national infrastructure like the Colonial Pipeline intrusion that shut down oil and gas supplies for seven days along the U.S. East Coast have triggered alarms. Ransom payments are almost always made in or other cryptocurrencies.

But while many were shaken by Mays Colonial Pipeline attack the Biden administration issued new pipeline regulations in its aftermath relatively few are aware of that dramas final act: Using blockchain analysis, the FBI was was able to follow the ransom payments fund flow and recover about 85% of the Bitcoin paid to ransomware group DarkSide.

An underused means

Unmasking criminals?

The power of machine learning.

It is necessary but not enough.

However, will men move towards privacy coins instead?

Is banning crypto a solution?

A cat and mouse game

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