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Category Archives: Bitcoin

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Ransomware Demand for Something Other than Bitcoin

Posted in Bitcoin, Ransomware

The increase in ransomware attacks over the past few years shows no signs of abating, with cybercriminals continuing to develop new methods of extorting businesses and consumers. We are used to hackers’ demands for payment in cryptocurrencies such as Bitcoin or threats to release compromising names or even photos in exchange for release of data. … Continue Reading

The Long Reach of ‘WannaCry’ Ransomware

Posted in Bitcoin, Ransomware, WannaCry Virus

 The ransomware trend of 2016 shows no signs of slowing down in 2017.  If anything, this favorite tool of hackers seems to be gaining steam domestically and internationally.  Preying on a vulnerability in Microsoft systems that was reportedly first discovered (but not confirmed) by the NSA , hackers last week infected hundreds of thousands of computers with interconnected ransomware attacks… Continue Reading

Why Ransomware and Bitcoin Go Together

Posted in Bitcoin, Ransomeware

Continuing from our earlier post, it is no surprise that hackers demand that ransomware be paid in Bitcoin.    Since wallets do not require users to share their identities, Bitcoin is untraceable so long as a hacker keeps his ransom in Bitcoin form.  And since the blockchain only shows amounts and wallet account numbers, there is no way to tell… Continue Reading

Bitcoin: What Is It and Why Do Hackers Love it?

Posted in Bitcoin, Ransomeware

With 2014 coined “the year of the retail breach” and 2015  “the year of the health care breach,” the trend looks to tag 2016 “the year of ransomware.”  In a typical ransomware attack, hackers use software to block access to a computer system until party pays a ransom amount, usually in the form of “Bitcoins.”  But what is a Bitcoin and why… Continue Reading

A Made for Hollywood Horror Story: Los Angeles Hospital Pays Cyber Hackers’ Ransom to Restore Access to Systems

Posted in Bitcoin, Ransomeware

On February 17, Hollywood Presbyterian Medical Center announced that it had paid cyber extortionists a ransom of 40 bitcoins in order to restore control over its systems and administrative functions.  While the number might not seem high at first glance, it equates to roughly $17,000.  The hospital first noticed malware on its system on February 5,… Continue Reading