133rd Day Of Lockdown

Maharashtra45795629935616142 Tamil Nadu2682852087844349 Andhra Pradesh176333956251604 Karnataka145830692722704 Delhi1391561252264033 Uttar Pradesh100310572711817 West Bengal80984568841785 Telangana6894649675563 Gujarat65704485612529 Bihar6203140760349 Assam4816233429115 Rajasthan4667932832732 Haryana3779631226448 Odisha3768124483258 Madhya Pradesh3508225414912 Kerala279561629988 Jammu and Kashmir2239614856417 Punjab1901512491462 Jharkhand140705199129 Chhatisgarh10109761369 Uttarakhand8008484795 Goa7075511460 Tripura5520367528 Puducherry4147253758 Manipur301818147 Himachal Pradesh2879171013 Nagaland24056594 Arunachal Pradesh179011053 Chandigarh120671520 Meghalaya9173305 Sikkim7832971 Mizoram5022820
Technology Other News 14 Dec 2018 Bitcoin ransoms just ...

Bitcoin ransoms just are not what they used to be

REUTERS
Published Dec 14, 2018, 5:59 pm IST
Updated Dec 14, 2018, 6:04 pm IST
Bitcoin and other cryptocurrencies have long been a favourite ransom tender for cyber criminals.
Anonymity aside, of course, the big appeal was an incredible run-up in bitcoin’s value over that time.
 Anonymity aside, of course, the big appeal was an incredible run-up in bitcoin’s value over that time.

Give me bitcoin or your life. Seriously?

The people behind a rash of bomb threats made across the United States and Canada on Thursday demanded a USD 20,000 ransom to be paid in bitcoin. Authorities said none of the threats - emailed to hundreds of businesses, public offices and schools - appeared credible.

 

Frankly, the perpetrators would have been better off asking for the Turkish lira.

Bitcoin and other cryptocurrencies have long been a favourite ransom tender for cybercriminals thanks to the currencies’ anonymous nature. US cybersecurity firm Chainalysis estimates that from 2012 through 2017, global ransom payments using bitcoin totalled at least USD 31 million.

Anonymity aside, of course, the big appeal was an incredible run-up in bitcoin’s value over that time. It shot from USD 5 a coin at the start of 2012 to nearly USD 20,000 at this time last year, according to data from Bitstamp, one of the larger bitcoin exchanges.

 

Today? Not so hot.

Bitcoin on Thursday was trading at around USD 3,250, down more than 80 per cent from its record high. In the last three months alone it has plunged 50 per cent.

Even the currencies of some crisis-hit economies like Turkey have done better: The lira is up 30 per cent since August.

Click on Deccan Chronicle Technology and Science for the latest news and reviews. Follow us on Facebook, Twitter

Click on Deccan Chronicle Technology and Science for the latest news and reviews. Follow us on Facebook, Twitter

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT