White House Focuses on Fighting Ransomware Attacks
After some ransomware attacks on different major companies like Colonial Pipeline, JBS, and most recently Kaseya, the White House become aware of the situation and has been seeking a way to prevent future problems. The US government decided to assign a task group to fight ransomware and prevent possible incoming attacks.
Ransomware is a kind of virus that hacks and compromises your system. Suddenly, a prompt message will appear, demanding that you pay a ransom, in order to regain access to your system. Ransomware operators often demand payment in cryptocurrency. There are three ways in which ransomware can spread: through ransom emails, less secure software or server exploits. These attacks are damaging the credibility of cryptos, as most of the hackers ask for payments in BTC.
The Financial Crimes Enforcement Network (FinCEN) will set a meeting with other lawmakers to discuss how companies or potential ransomware victims can upgrade their protection against these attacks.
This task force might reinforce new, strict regulations on cryptocurrency, or alternatively, it might attempt to permanently ban bitcoins and the like. But it might also push for strengthening the security of AMLs and KYCs. They are leaning towards discouraging crypto as payments and hope to eventually lessen or even eliminate the ransomware attacks.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals