The Biden administration plans to enhance cryptocurrency tracking as part of macro endeavors to reduce the pain from ransomware attacks, said the Deputy Press Secretary. The government’s actions come amid several consecutive hacks on US soil.
What is Ransomware and US Attacks?
Ransomware attacks mean that the perpetrators infiltrate individuals or organizations to encrypt sensible information. By doing so, they cripple the victims’ operations and request some sort of a ransom to be paid to provide the necessary encryption tools to regain access to the data.
Typically, the attackers request the payment to be sent via Bitcoin (BTC), while some notorious groups have switched their primary method to Monero (XMR) due to enhanced anonymity.
Hackers have targeted US-based organizations quite frequently in the past few months. CryptoPotato reported in February that Kia Motors America (KMA) fell victim to such hacks. The perpetrators requested the payment to be made via bitcoin, and the tot
Crypto Critics Say Elizabeth Warren’s Clarity Act Tweaks Hand Wall Street the Upper Hand
Amid ongoing debate over the Digital Asset Market Clarity Act, Massachusetts Senator Elizabeth Warren, a long-standing critic of…
