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Cybersecurity Expert Believes That Cryptos Aid Ransomware

For many years, especially after creating the Internet, many bad players have made using platforms difficult due to the numerous activities that involve hacking and then demanding ransomware to prevent them from releasing sensitive information to the public. The information includes the firm’s data and even customer information. This poses a lot of problem to the cryptocurrency industry’s development as governments believe the creation of digital assets have made it easier for criminals to get money for their evil acts and go scot-free.

New regulations and agitations have taken a toll on crypto-related businesses globally. Some try to make regulations that are hindering the growth of the assets. A well-known player in Internet Security, Chris Krebs has a lot to say about current happenings which involve ransomware’s collection by cybercriminals.

Krebs asks governments to look into cryptos

Chris Krebs used to work under the Department Of Home Land Security, meaning that he has a lot of experience in cybercrime and security. The expert believes governments have to work towards cryptocurrencies while adding that the anonymous form of payment is a problem for many nations within the global community.

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Krebs explained that many Americans are afraid of ransomware, which digital assets have made very common in recent times. When asked in an interview about Bitcoin, the expert explained that cryptocurrencies had aided the current problems resulting from cybercriminals demanding a high amount of money through the anonymous platform.

He added that it’s an anonymous payment platform, which gives users the ability to pay and receive money anonymously. According to Krebs, this is a major problem that many Americans are worried about as many have faced problems due to the criminals’ demands. The interviewer, Bill Maher, shared that around 1600 schools have had ransomware problems, data gotten from IBM.

Krebs explains how criminals have infiltrated platforms

Asides from Maher’s input, Krebs added that other institutions had had problems with the numerous wares, such as hospitals and even government agencies. He explained that many states had been hit numerous times due to their increasing attacks.

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Maher revealed that the cybercriminals “just want money” and compared their recent attacks to a popular movie called “Die Hard.” The expert also warned the criminals against their acts and added that there would be consequences for their ransomware. Krebs added that the government should look at wallets while adding that countries globally should prevent attacks towards the US.

It is no news that ransomware has increased over the past few years, which is due to many reasons. One of the reasons would be the increased use of technology. Many people have websites and platforms for their businesses, making it easy for criminals to infiltrate and make impossible demands. Another reason is the poverty rate from communities across borders.

These increasing poverty rates have made it hard for people to fend for themselves without going into the life of crime. One of the most known reasons is the creation of an anonymous payment platform like cryptocurrencies. This has made cross-border payments more accessible and has also made cybercrimes more prominent.

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Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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