Stopping the Runaway Ransomware Epidemic

in #cryptocurrency2 months ago


How do governments effectively blunt the growth of ransomware?  There is a path, but it does not involve outlawing cryptocurrency!

I see many government politicians positioning a ban of cryptocurrency as a solution for ransomware.  That would simply not world.  It would create an obstacle for cybercriminals, but one they would pursue to overcome.  At most, it would be a temporary setback for cybercriminals.   

In this week’s video I discuss how governments can maneuver to stop the ransomware epidemic.  We must undermine the motivation of attackers by outlawing payment of digital extortion.  Taking away the likely benefits of ransomware attacks is the only way to success. 

We must stop vilifying technology and start addressing the root of the problem.

 

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Targeting crypto will not stop ransomware

I agree with you, but wouldnt forbid paying ransomware lead to companies paying it in secret? and with this, also stop reporting ransomware incidents to government agencys?

 2 months ago 

Unlikely for public companies. Executives don't want to go to jail and given the amount that would need to be paid, it would be difficult to hide that amount. Then there is the obvious, when it is paid and the unlock keys are given, it will involve a lot of people who will realize what happened.

 2 months ago 

It is really hard to hide the fact systems are infected with ransomware then suddenly you have the decryption key? The realistic steps to go through expose it to scrutiny. The risk of getting caught and going to jail is a big deterrent to an executive.

hello @mrosenquist ,
what the politicians are saying makes no sense, I think they just want to look for the culprit the ransomware attacks will continue and the criminals will look for a way to collect the extortion in another way, that makes me remember when they said that BTC should be banned because with it you pay for things that are not legal, a madness originated by ignorance.

I'm promoting That curation trail on HIVE and it would help me a lot if you forward it, You can also check it yourself: you might find it interesting to join, I'd love to hear your comments.

 2 months ago 

I agree, they are just looking for a reason to ban crypto. In this case it has no merit. Just doing my part to call it out to my community of cybersecurity professionals. :)