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Question: Will 'WannaCry' increase the global demand for Bitcoin?
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Author Topic: Will 'WannaCry' increase the global demand for Bitcoin?  (Read 1706 times)
Bitcoin Gambling (OP)
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May 15, 2017, 02:51:00 PM
 #1

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May 15, 2017, 03:04:59 PM
 #2

The amount paid so far is $50,000. This isn't a very large amount according to bitcoin market cap. Most of the people affected by the hack aren't willing to pay because there is no surity that by paying them, there files are secure and aren't open to further hacking. Therefore, there isn't any big change gonna happen to bitcoin value.
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May 15, 2017, 03:09:23 PM
 #3

The amount paid so far is $50,000. This isn't a very large amount according to bitcoin market cap. Most of the people affected by the hack aren't willing to pay because there is no surity that by paying them, there files are secure and aren't open to further hacking. Therefore, there isn't any big change gonna happen to bitcoin value.

Is there any news that files are really being decrypted after the ransom payment?

Which block explorer the malware is checking to confirm payment?

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May 15, 2017, 03:11:00 PM
 #4

I don't think so, it's not very likely. By now people already have experiences with ransomware and know that paying ransome doesn't actualy solve anything and its no guarantee for decription and protection from further ransome. And I agree that the amount paid, having in mind the number of infected computers is not that big.

dantanas
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May 15, 2017, 03:11:42 PM
 #5

No but it does create market caos, just because more coins are being exchanged.
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May 15, 2017, 03:14:58 PM
 #6

not, because very soon the security holes will be patched and people stop getting infected with this ransomware and also on top of that there is only a matter of time before the hackers realize that bitcoin is no anonymous and either get caught while trying to cash out or move to an anon coin like monero.

it would be funny to find out they were using coinbase as their bitcoin wallet like the kickass guy Grin

There is a FOMO brewing...
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May 15, 2017, 03:26:11 PM
 #7

The total amount paid right now is less than the reward mined from two new blocks so.. no.
The sum is pretty tiny and I doubt it will grow too much in the next days.

It would be interesting to hear from people that have already paid if they did receive the key from the "hackers".

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RocketSingh
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May 15, 2017, 03:44:15 PM
 #8

Is 'WannaCry' creating a new address per user?

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May 15, 2017, 03:45:19 PM
 #9

The total amount paid right now is less than the reward mined from two new blocks so.. no.
The sum is pretty tiny and I doubt it will grow too much in the next days.

It would be interesting to hear from people that have already paid if they did receive the key from the "hackers".

Wanna Crypt could have been desastrous for bitcoin's perception outside of our echochamber. Let's hope for Brad Smith's ruffle (MS Chief Legal Officer) against the code origins has some effect. Seriously you dont want to get dragged into a silly cyberwar (hitting hospitals in the UK mostly) just for fun'n'profit.

The backsleash from society would outweight any two block rewards!

And watching the top speed at which 22nd year ole hacker disarm that worm there will probably only weeks left until a public decryption tool for this is available. I know for sure I would NOT PAY these crooks a single Satoshi because: 1) have backups of data 2) more, but older backups 3) bite my shiny metal ass 4) I can wait.
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May 15, 2017, 03:46:13 PM
 #10

Just a speculation, the global demand will increase by itself.
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May 15, 2017, 03:51:44 PM
 #11

Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

There is a FOMO brewing...
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May 15, 2017, 03:58:57 PM
 #12

Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

If they have hardcoded bitcoin addresses, then how do they monitor individual payments of different users?

richsoon
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May 15, 2017, 04:01:01 PM
 #13

The hack itself won't increase global demand as they didn't receive very many bitcoins, however I think it will indirectly increase demand by bringing attention to bitcoin.
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May 15, 2017, 04:01:24 PM
 #14

Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

If they have hardcoded bitcoin addresses, then how do they monitor individual payments of different users?
Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

Maybe each address is assigned to a user. When that user pays then that address is free to move to another user. So probably the number of ransom ware coded is quite a lot. I read somewhere in the forum, that they are following the addresses used by the ransom ware. They are calculating how much has been paid and trying follow where the money will go.
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May 15, 2017, 04:03:13 PM
 #15

Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

If they have hardcoded bitcoin addresses, then how do they monitor individual payments of different users?

looking at the transaction amounts, each one is different because of price difference, so it is possible that the program asks them to pay exact amount of $300 for example 0.167599BTC and type in the TX ID then it uses a blockexplorer or a node to check if it is paid the exact amount and gives them the key.

the 0.167599 amount was taken from one of the addresses and you can see the amount is already unique.

There is a FOMO brewing...
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May 15, 2017, 04:03:35 PM
 #16

The amount paid so far is $50,000. This isn't a very large amount according to bitcoin market cap. Most of the people affected by the hack aren't willing to pay because there is no surity that by paying them, there files are secure and aren't open to further hacking. Therefore, there isn't any big change gonna happen to bitcoin value.

Is there any news that files are really being decrypted after the ransom payment?

Which block explorer the malware is checking to confirm payment?
There isn't any evidence of file being decrypted after payment. But what I think is that they must be giving decryption key after the payment. So, that more people pay them.
There are three bitcoin address being reported which are said to be used by the hackers.
These maybe helpful to you:
https://bravenewcoin.com/news/bitcoin-income-from-wannacry-ransomware-attacks-expected-to-increase/
https://www.google.co.in/amp/gizmodo.com/hackers-behind-massive-ransomware-have-made-an-embarras-1795195644/amp

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May 15, 2017, 04:04:20 PM
 #17

For requested $300 is easier to buy some new Laptop.

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May 15, 2017, 04:10:00 PM
 #18

It might increase global demand for Bitcoin's head...

The sooner it passes, the better. There's enough negative press for crypto's as it is already.

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May 15, 2017, 04:12:05 PM
 #19

For requested $300 is easier to buy some new Laptop.

New laptop wont have old files...

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May 15, 2017, 04:19:25 PM
 #20

Obviously not. Last time I checked they had a little over 20 BTC, do you think 20 BTC will move the market so profoundly? Roll Eyes

Is 'WannaCry' creating a new address per user?

according to things you can read in this topic:
https://bitcointalk.org/index.php?topic=1916199.0
it seems like they have hard coded a couple of bitcoin addresses inside the ransomeware itself which asks for the payment in one of those addresses.

If they have hardcoded bitcoin addresses, then how do they monitor individual payments of different users?

looking at the transaction amounts, each one is different because of price difference, so it is possible that the program asks them to pay exact amount of $300 for example 0.167599BTC and type in the TX ID then it uses a blockexplorer or a node to check if it is paid the exact amount and gives them the key.

the 0.167599 amount was taken from one of the addresses and you can see the amount is already unique.

Yes, this is what's most likely happening as discussed on the thread monitoring the ransom addresses.

For requested $300 is easier to buy some new Laptop.

If the lost encrypted files are irrelevant and the ransomware is the only problem, might as well simply format the computer, 0$ required for that.
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