30 Aug '17, 11pm

If Bitcoin Goes Mainstream, Will Ransomware Go Mainstream Too?

If Bitcoin Goes Mainstream, Will Ransomware Go Mainstream Too?

Bitcoin and other digital currencies are experiencing new highs and a record $166 billion of total market capitalization. More stores worldwide are starting to accept Bitcoin as method of payments and countless startups are succeeding in the fintech industry. With such powerful tailwinds, cryptocurrencies have the potential to become a mainstream method of payment. But if Bitcoin goes mainstream, will ransomware go mainstream too? Bitcoin has been used as a ransomware payment for years. Hackers (also called “cryptolockers”), encrypt the hard drives of their victims with an encryption key known only to the attacker. The hacker then asks his victims to pay a certain amount of money to a designated Bitcoin address in order to have their data decrypted. Since Bitcoin is not yet mainstream, ransomware authors often write instructions in various languages in order to make it eas...

Full article: https://cointelegraph.com/news/if-bitcoin-goes-mainstream...

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