[2016-03-25] What Came First, Bitcoin or Ransomware?

[crossabdd]

The popular misconception among many people is that the ransomware attacks are due to bitcoin. However, it is not true and the ransomware has been around for a long time, even before bitcoin became popular. It is just the choice of payment which has changed from conventional fund transfer methods to bitcoin due to the ease of transactions, pseudonymity and transparency of transaction data on the blockchain.

The history of ransomware dates back to ages when the digital currency was unheard of among the masses. The first recorded ransomware attack was in 1989 called PC Cyborg or AIDS Trojan. The ransomware was created by Joseph Popp which claimed the software license on the uses computer has expired and demanded a ransom of $189 to be paid to PC Cyborg Corporation for decrypting the files on the computer. Since then there have been various ransomware attacks.

http://www.newsbtc.com/2016/03/25/whats-first-bitcoin-ransomware/

[aso118]

The popular misconception among many people is that the ransomware attacks are due to bitcoin. However, it is not true and the ransomware has been around for a long time, even before bitcoin became popular. It is just the choice of payment which has changed from conventional fund transfer methods to bitcoin due to the ease of transactions, pseudonymity and transparency of transaction data on the blockchain.

The history of ransomware dates back to ages when the digital currency was unheard of among the masses. The first recorded ransomware attack was in 1989 called PC Cyborg or AIDS Trojan. The ransomware was created by Joseph Popp which claimed the software license on the uses computer has expired and demanded a ransom of $189 to be paid to PC Cyborg Corporation for decrypting the files on the computer. Since then there have been various ransomware attacks.

http://www.newsbtc.com/2016/03/25/whats-first-bitcoin-ransomware/

I doubt if such a misconception is there among the public. What is certain is that almost all ransomware have evolved and adopted bitcoin. They have no qualms about acknowledging the advantages of Bitcoin.

[Kingno.1]

According to me Ransomware came first and then bitcoins.
Ransomware used lock all the files present in your computer and then they use to ask for ransom.
This should be before introduction of bitcoins.

[gentlemand]

You had much older school options if you read ancient hacker tales. E gold was a biggie for a while and used for plenty of nefarious reasons.

[1Referee]

Ransomware was here before Bitcoin, but the fact is that after Bitcoin became more popular and thus more valuable, the amount of ransomware exploded and people were seeing the negative effect as they downloaded some bad stuff.

[aso118]

Ransomware was here before Bitcoin, but the fact is that after Bitcoin became more popular and thus more valuable, the amount of ransomware exploded and people were seeing the negative effect as they downloaded some bad stuff.

Bitcoin being valuable shouldn't be a reason for the explosion in ransomware. In the end, hackers are interested in extracting the maximum amount of money they can from people. If it were possible previously, they would have just asked for 2X$ of wire transfer, instead of X$.