[2017-05-16] NDTV: Why Ransomware Attackers Demanded Payments In Bitcoins

[polynesia]

Why Ransomware Attackers Demanded Payments In Bitcoins

http://www.ndtv.com/india-news/why-ransomware-attackers-demanded-payments-in-bitcoins-1693991

Bitcoin is in the news again after Friday's worldwide ransomware attack. The malicious software locks down victims' computers and refuses to grant them access to their files unless they agree to pay at least $300 in bitcoin. Which may have you wondering: What is bitcoin? And why do the attackers want payment in that currency?

Here's a refresher on bitcoin and how it's connected to the ongoing security issue.

[AK47-]

Such attacks put the bitcoin reputation at sake. Some people will now think that bitcoin supports crime and should be banned. Especially in India where people are mostly gullible. A single news can destroy a reputation. But in actual that is not the case. Bitcoin is pseudonymous. Yes, we can't trace the person name or information. But we can trace the transaction through open ledger. But complete news is hardly told anywhere. I am glad NDTV did it.