Is there a solution to hackers using Bitcoins for ransoms?

[Kakmakr]

The Decentralized network has nothing to do with this, it is the Pseudo-anonymity that seems to be the issue here. They hide their crime by using Bitcoin and this makes it easier for them to get away with it. Now they are hoping that they will not use a mixing service that are not a government front company that collects data for the special agencies.

There are many other Crypto currencies that are more anonymous than Bitcoin, so I do not understand why they used Bitcoin. ^IwanaCry^

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[Amph]

they didn't say how they are getting infected is this again by a simply email? how they are sending them this malware? don't tell me that they are downloading unknown file from the web...

Secure your computers and back up your data?

almost funny to be said, but apaprently they are not so intelligent if they can't even think about this simple thing to do any kind of malware like this could be rendered useless with a proper secure erase and a backup

[mobnepal]

- No if we look at marketcap it is growing because of new people buying bitcoin to pay for ransom.
- Anonymity and decentralization was designed to give financial freedom to people but this features have also been helpful for criminal purposes.
- Government can't shut down bitcoin network so we don't have to worry about losing anything.
- In long term, I think bitcoin will continue to be used for illegal transactions in more intense level.

[drwtsn32]

Ransomwares are very difficult or almost impossible to cure when it has already encrypted your system.
It encrypts your files using an unknown algorithm that is almost impossible to reverse.
And then infiltrates the core of your system to display a message in the middle saying "We will decrypt your files after you pay bitcoin to this address..."
I have never experienced someone paying that then gets their file back.

In terms of system security, there are no existing antiviruses that can cure this kind of program though some of them can scan this beforehand. So make sure you have your virus definition database updated.
We must apply the "prevention is better than cure" principle in these circumstances.

(Source: 3 years experience as Tech Support)

[BTCLovingDude]

there will always be people who will use bitcoin for foul reasons. this is for a hack called ransomeware, the other day it was for buying drugs from the dark net and next it will be something else.

what people need to understand that bitcoin just like USD, EUR, RUR, ... are just tools evil people use and that doesn't mean that tool is also evil. sadly the media doesn't want to know this at the moment. and unless we have a media like them our voice won't be heard.

[DoublerHunter]

The best way to solve this kind of problems is to get well educated to the things like how to secure their computers and what are the things that they need to look for if they want to be secured even they are using windows os. They should update their computers always and also use anti virus and do not just click and download any kind of software or apps online. If they really want to be secure then they just needed to switch to linux .

[bitbunnny]

You can't prevent this to happen and Bitcoin could be abused just like anything else but that is not the reason we should stop using it. People should be more informed about Bitcoins and realise that it is not criminal currency and it could be used for very good purposes. And if are regulary doing back up on your computers and protect it with updates and antiviruses you don't have to worry about the ransome.

[freedomno1]

I'm sure many of you have seen the news about the WannaCry ransomware?

Do you think cases like this will affect Bitcoin negatively in the long run?

Even though Bitcoin is not the issue in cases like this, I feel like Bitcoin gets shown in a negative light. Since these hackers are only requesting payment in BTC this is what ignorant people get attached to.

I've heard plenty of people say things like: "Oh bitcoins...aren't those only used by hackers?"

Obviously these people are in the minority and do not know what they are talking about but it seems to be what lingers with some. I also know a lot of people that invest in Bitcoins, mine them, etc.

My big fear is that the government(s) are going to start trying to become involved to help curb situations like this. Does anyone else worry about this for the long term future of Bitcoin?

The big question is...is there anything that can even been done to prevent situations like WannaCry?

The beauty of Bitcoin is that it's decentralized, but will that maybe be it's downfall too?

It's simple they will regulate the Bitcoin exchanges and use IP address tracing and KYC/AML to track the funds movements for Bitcoin transactions, then ask for IP logs to altcoin and money exchanges.
This will then be mitigated by hackers using mixers and converting coins into altcoins like Monero then putting the coins on the exchanges and selling them as is.

Which leaves the ball in the hands of the regulators to find a way to track Monero addresses instead of Bitcoin ones.

Will it effect Bitcoin negatively a bit but people will still adopt it and it also raises interest in cryptocurrency and sadly also forces companies to learn how to use it in case they get hit by ransomware again.

[xuan87]

Possibly the ability to blacklist addresses so that they can never be used as an input again. Infect a million machines, and you need a million addresses otherwise they will end up getting rejected by the network. Would make ransom attacks on large scale more difficult, and once found to be a scam, address is forever locked so the funds can never be spent. If the scammers are likely to loose everything they get, there's less incentive to bother.

I hear news tha the Wannacry hackers didn`t get any money from the ransoms.
Maybe they don`t do it for money.
Anyway,the only solution is to refuse to pay the ransom.

I think the main reasons is money however because of many complaints and rejection it made the hacker hesitate to make a move and there are so many people supervise and track the address
Refusing to pay ransom maybe a good solution for this case because the way to settle this case is already explained and it is quite simple, but for next ransomware I doubt we can used this method

[dinofelis]

The intervention of the government will be inevitable if we can't control the flow of bitcoin transaction and its anonimity thus making hackers and especially taking advantage of it bypassing the screening ot scanning of money involved

That's why it was invented in the first place: to be able to pay those things society doesn't want you to pay, and to hide the payment of those things you don't want people to know you paid it.  Essentially, that's everything which covers dark markets, weapons, murder, terrorism, bribing, ransom, subversion, forbidden political action, hidden cartel formation, ....
It is exactly this kind of freedom of action for which crypto is invented, and one shouldn't be surprised that it finds its domain of application.  It is one of the reasons why I was enthusiastic about crypto, because it gives back this freedom to people, against society.

[Eebertay]

Youre basically asking "can/will people stop being scumbags?"

The answer is no

[iamTom123]

Im going to invent a do it yourself "get out of ransom" kit.  Sell it for $9.95 and make a killing.

Oh yeah man, that would be a very good idea and one that can make one a mega-millionaire. Seriously speaking, am sure that anti-virus companies are already adding anti-ransomware feature on their respective products. My free SMADAV has already told me that they have this feature added to my  computer. It is always better to do something in this problem rather then be sorry later.