Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

[pariahbit]

has anyone actually read the article and clicked the so called research??.. i know Lauda hasnt

ok here is the summary..
1. an MIT blog failed miserably at research.
2. it said that based on a survey 250 it professionals were surveyed.. well the "research" is a blog from citrex that said two thirds of the FTSE350 companies are using citrex's 10 step guide.. yet if you actually go to the guide https://www.citrix.com/blogs/2016/06/01/ten-steps-to-cyber-security-guidance-for-business/ and then use the "find" tool to find the word bitcoin.. guess what.. no mention of bitcoin whatsoever.

Te article cites a survey "commissioned by Citrix and carried out by Censuswide – quizzed 250 IT and security specialists in companies with 250 or more employees across the UK to look at their strategies to defend against cyber and ransomware attacks. ... The poll also found that a third (33 per cent) of UK companies are now building a ready stockpile of digital currency (for example, Bitcoin) in case of ransomware attack."

Unless you feel these companies are stockpiling Ethers or BBQcoins, you're simply dead wrong

[Jet Cash]

Obviously it's time the UK stopped using American software.

[franky1]

Te article cites a survey "commissioned by Citrix and carried out by Censuswide – quizzed 250 IT and security specialists in companies with 250 or more employees across the UK to look at their strategies to defend against cyber and ransomware attacks. ... The poll also found that a third (33 per cent) of UK companies are now building a ready stockpile of digital currency (for example, Bitcoin) in case of ransomware attack."

Unless you feel these companies are stockpiling Ethers or BBQcoins, you're simply dead wrong

LOL im guessing you didnt go deep enough..



its the 10 step guide that two thirds of the FTSE350 are using... like i said
its the 10 step guide that both the original and updated guide DONT MENTION BITCOIN... like i said.

so instead of saying i am wrong.. try to find the citrex report/survey/poll that actually mentions bitcoin.. rather then blog posts written by random people

here ill even quote citrexs only advice about ransomware

The guidance is to minimize the amount of information stored on a device to only that which is needed to fulfill the business activity – and to encrypt the data at rest, in transit and in use.

Put more bluntly, ransomware can’t attack data that isn’t stored, transmitted, or used insecurely.

[pariahbit]

The link is to Citrix, the company which commissioned the survey. Why does that trouble you?

"Research – commissioned by Citrix and carried out by Censuswide – quizzed 250 IT and security specialists in companies with 250 or more employees across the UK to look at their strategies to defend against cyber and ransomware attacks."

For all I know, Citrix also tells car owners not to use Carnauba wax. What does that have to do with anything?

And why all the rage? Are you suggesting that the numbers are inflated? Or that Bitcoin ransomware isn't a thing?

[franky1]

The link is to Citrix, the company which commissioned the survey. Why does that trouble you?

"Research – commissioned by Citrix and carried out by Censuswide – quizzed 250 IT and security specialists in companies with 250 or more employees across the UK to look at their strategies to defend against cyber and ransomware attacks."

For all I know, Citrix also tells car owners not to use Carnauba wax. What does that have to do with anything?

And why all the rage? Are you suggesting that the numbers are inflated? Or that Bitcoin ransomware isn't a thing?

bitcoin ransomware is a thing.. but the numbers are non-existant

im just addressing the fact that there is a lack of actual research, and that the OP along with alot of people re blindly believing this stuff just because of a headline that has nothing to back it up but opinion.

there is no actual research that 250 companies are stockpiling bitcoin in the UK purely for ransomware attacks.
there is just someones blog who wrote an opinion, and tried to make it sound real by quoting a article. and the article quoted research unrelated to stockpiling bitcoins.. but neither of these two actually show that 250 or even two thirds of FTS350 are actually stockpiling bitcoins.

people who blindly take a headline as being true without researching it are the same kinds of people who should never be in a court jury. with the mindset being "he must be guilty of the crime otherwise he wont be standing in court in the first place" and not even look at the evidence

[The Sceptical Chymist]

Now my take on this is that the more bitcoin is linked to nefarious activities,  the greater the allure.   Any news is good news for bitcoin as far as adoption goes by the masses.  That might not be true as far as government regulation goes,  though.

[franky1]

Now my take on this is that the more bitcoin is linked to nefarious activities,  the greater the allure.   Any news is good news for bitcoin as far as adoption goes by the masses.  That might not be true as far as government regulation goes,  though.

any news can be used positively. but this example should not be one to try sparking a price rise, as its bases lacks merit.
there is no need to go on a speculation price war thinking that millionaire profiting companies are grabbing bitcoins this week..

[pariahbit]

The link is to Citrix, the company which commissioned the survey. Why does that trouble you?

"Research – commissioned by Citrix and carried out by Censuswide – quizzed 250 IT and security specialists in companies with 250 or more employees across the UK to look at their strategies to defend against cyber and ransomware attacks."

For all I know, Citrix also tells car owners not to use Carnauba wax. What does that have to do with anything?

And why all the rage? Are you suggesting that the numbers are inflated? Or that Bitcoin ransomware isn't a thing?

its that there is no actual research that 250 companies are stockpiling bitcoin in the UK purely for ransomware attacks.

There is a survey, "commissioned by Citrix and carried out by Censuswide [that] quizzed 250 IT and security specialists in companies with 250 or more employees across the UK"
From [what I believe to be an exhaustive] list below, which do you believe? (you may chose more than one):
1. Citrix never commissioned Censuswide to conduct a survey; Citrix lied.
2. Citrix commissioned Censuswide to conduct a survey, which Censuswide never conducted; Censuswide lied.
3. A survey quizzing "250 IT and security specialists in companies with 250 or more employees across the UK" is not research.
4. Fuck U h80r, leave bitcoin alone!

[StraightAArdvark]

Now my take on this is that the more bitcoin is linked to nefarious activities,  the greater the allure.   Any news is good news for bitcoin as far as adoption goes by the masses. 

Britain's worst paedophile: Pervert, 30, abused HUNDREDS of young victims at Christian orphanages across south-east Asia - but why did UK police not raise the alarm?

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Read more: http://www.dailymail.co.uk/news/article-3620004/Britain-s-worst-paedophile-Richard-Huckle-admits-scores-attack-children.html#ixzz4AQZFj4Q3
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[franky1]

There is a survey, "commissioned by Citrix and carried out by Censuswide [that] quizzed 250 IT and security specialists in companies with 250 or more employees across the UK"
From [what I believe to be an exhaustive] list below, which do you believe? (you may chose more than one):
1. Citrix never commissioned Censuswide to conduct a survey; Citrix lied.
2. Citrix commissioned Censuswide to conduct a survey, which Censuswide never conducted; Censuswide lied.
3. A survey quizzing "250 IT and security specialists in companies with 250 or more employees across the UK" is not research.
4. Fuck U h80r, leave bitcoin alone!

5. there was a survey.. about IT security guidelines of the FTSE350 companies where 2 thirds use the guidelines... but nothing in the guidelines is related or mentioned stockpiling bitcoins!!
thats the third post i have said these words..

this whole thread is just playing a game of chinese whispers to distort real information and then use naivety and lack of research as a bases to try and suggest that big companies are starting to hoard bitcoin.

its like suggesting that someone had sex with another persons mother.. trying to show no actual proof but if they tell enough people that the proof would be that everyone knows about it.

[gentlemand]

It's been scientifically proven that bitcoin exposure turns you into a deviant.

The moment my first satoshis arrived i touched my grandma inappropriately and it's developed from there.

I for one embrace this new phase in my life wholeheartedly.

[pariahbit]

There is a survey, "commissioned by Citrix and carried out by Censuswide [that] quizzed 250 IT and security specialists in companies with 250 or more employees across the UK"
From [what I believe to be an exhaustive] list below, which do you believe? (you may chose more than one):
1. Citrix never commissioned Censuswide to conduct a survey; Citrix lied.
2. Citrix commissioned Censuswide to conduct a survey, which Censuswide never conducted; Censuswide lied.
3. A survey quizzing "250 IT and security specialists in companies with 250 or more employees across the UK" is not research.
4. Fuck U h80r, leave bitcoin alone!

5. there was a survey.. about IT security guidelines of the FTSE350 companies where 2 thirds (yep they got those numbers inaccurate too as 2/3 of 350 isnt exactly 250)... but nothing related/mentioned in those guidelines about stockpiling bitcoins!!
thats the third post i have said these words..

Link to the Censuswide study & why you think it's the study being referenced by the article.

[StraightAArdvark]

It's been scientifically proven that bitcoin exposure turns you into a deviant.

Funny because it's true?
It's not that bitcoin turns people into scumbags, but that those attracted to bitcoin are already latent scumbags. Sawed off shotguns don't turn people into criminals, but odds are the guy carrying a sawed-off is one.

[pereira4]

Yet another shameful article linking Bitcoin to (cyber)criminals:

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Damn, this kind of thing is what makes bitcoin will never be accepted by all circles of society, and make government more incentive would prohibit bitcoin in their country. 

That's nonsense, if you compare the amount of crime done in cash compared to Bitcoin, you will realize how it's less than 1% of crime committed in Bitcoin, compared to cash.

In any case, governments will be forced to use Bitcoin if they want to get rid of ramsonware, deal with it.

[Kprawn]

who are the companies

These companies are just as fictitious as the article... not to be taken seriously. If someone did the research to acquire the knowledge to buy Bitcoin, they would have known that it takes nearly no time at all to

buy Bitcoins. I would much rather just invest in a good backup system, with incremental offline backups stored off site. The smaller companies with no IT staff and security experts, will probably go this route to

save some downtime, but that would be foolish to give into these ransom demands. Just make backups regularly, and you will be fine.    

[pariahbit]

Yet another shameful article linking Bitcoin to (cyber)criminals:

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Damn, this kind of thing is what makes bitcoin will never be accepted by all circles of society, and make government more incentive would prohibit bitcoin in their country.  

That's nonsense, if you compare the amount of crime done in cash compared to Bitcoin, you will realize how it's less than 1% of crime committed in Bitcoin, compared to cash.

Well no. Europol: Bitcoin accounts for over 40% of criminal-to-criminal online payments. And bitcoin is only about one one-billionth the size of fiat. So yeah, fewer crimes involve bitcoin than fiat, but that's like saying your trailer park is safer than NYC because fewer murders happened in your trailer park than in the city of New York

In any case, governments will be forced to use Bitcoin if they want to get rid of ramsonware, deal with it.

Oh, they will, they will. And remember: banning is so much simpler than regulation

[unamis76]

This is the companies own fault and (if) they're stockpiling on Bitcoin because they want to. If they can afford to put money where there are still risks, they can afford to hire good IT technicians that are permanently monitoring the network and that work to make it as robust and secure as possible. Looks like companies never heard of "better safe than sorry" or they simply prefer to be sorry everytime.

Almost half of respondents in the Citrix survey said that company data was not backed up at least daily.

This is a very concerning reality that's been present for quite a long time. If companies don't protect themselves, it's their loss: they'll eventually get hacked and people will request money from them (Bitcoin or fiat), unfortunately.

[mtnsaa]

Yet another shameful article linking Bitcoin to (cyber)criminals:

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Damn, this kind of thing is what makes bitcoin will never be accepted by all circles of society, and make government more incentive would prohibit bitcoin in their country. 

That's nonsense, if you compare the amount of crime done in cash compared to Bitcoin, you will realize how it's less than 1% of crime committed in Bitcoin, compared to cash.

In any case, governments will be forced to use Bitcoin if they want to get rid of ramsonware, deal with it.

I don't think that's the case at all if you take that proportionally. To deny that Bitcoin was and it's still fueled by black market, tax evasion, illegal trading and other activities is naive at this point. This all started with Silk Road, that image of BTC will be forever linked to that for average consumer.

[r0ach]

bullish

[calkob]

it is shamful because fiat has been used by criminals for years and i dont here anyone complaining about that.....