Senator Lindsey Graham Feels Ransomware is an Act of Terrorism
Law enforcement agencies and government officials are trying to come up with a strategy to fight Bitcoin ransomware on a global scale. One proposal would see countries not doing anything to stop ransomware groups should be treated the same as those who aid in terrorism. Playing the Terrorism Card to Fight Ransomware. The topic of Bitcoin ransomware has....
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What seems more likely, however, is how organizations like IS get their funding through money laundering, a scheme that has been plaguing traditional finance for quite some time. The topic of the involvement of Bitcoin in terrorism funding has been kicked around a few times in the past, but it looks like there is no end in sight. Amit Kumar, a US-based terror expert, feels it is vital to disrupting terrorism financing, references to Bitcoin in this context as playing a role that further warrants investigation. It is not the first time someone mentions Bitcoin and terrorism funding in the....
Senator Hassan wants federal agencies to take more action while Senator Lummis is more concerned with stifling innovation. Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets.Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks.The Senate Homeland Security and Governmental Affairs Committee member sent a letter on Sept. 16 to several agencies including the Justice Department, the Department of Homeland....
A U.S. senator has launched an investigation into the rise of ransomware attacks as well as how cryptocurrencies facilitate cybercrimes. “The investigation will also look into current oversight efforts and regulations related to virtual currencies,” the senator explained. Investigation Into Crypto’s Use in Cybercrimes U.S. Senator Gary Peters announced last week a bipartisan “investigation into [the] rise of ransomware attacks and how cryptocurrencies facilitate cybercrimes.” Peters is the chairman of the Homeland Security and Governmental Affairs Committee.....
Paying the fee associated with a ransomware should always be seen as a last resort. There is no guarantee the decryption keys will restore full system access or revert all data back to its original state. The University of Calgary is the most recent victim of ransomware attacks, and the school paid CND$20,000 in Bitcoin to get rid of the malware. Despite paying the fee, not all systems are back online, as the provided decryption keys do not restore all systems automatically. Trouble started brewing for the University of Calgary on May 28, and students were advised not to connect their....
The Year 2015 saw cyber criminals implement new strategies to extort money, many taking their ransoms in bitcoin. The one that got everybody’s attention as the year came to a close was Ransom32 – a JavaScript-based ransomware which freezes the files in a user’s computer until a ransom is paid in bitcoin. The revelation was first made on BleepingComputer.com by an infected user who complained that he could not access the data on his computer, including pictures, documents, and mp3. Bleeping Computer editor Lawrence Abrams told BBC.com that the infection “was designed for those that lacked....