WSJ says “Ban Cryptocurrency to Fight Ransomware” (relax folks, its an opinion piece)

WSJ says “Ban Cryptocurrency to Fight Ransomware” (relax folks, its an opinion piece)

The Wall Street Journal editorialising on “The existence of bitcoin and the rest benefits nobody except criminals and speculators.”.

WSJ point to the latest (AFAIK) example of a ransomware attack, Colonial Pipeline. And:

  • nearly 2,500 cases of ransomware reported to the Federal Bureau of Investigation last year
  • ransomware victims paid hackers $350 million in cryptocurrency last year

Says the article:

  • The solutions floated after the Colonial hack—improved cybersecurity in the private sector and public-private collaboration to protect critical infrastructure—are pro forma and inadequate. There is a simpler and more effective way to stop the ransomware pandemic: Ban cryptocurrency.
  • Ransomware can’t succeed without cryptocurrency. 

Shady looking character:

About Author

Related posts