Why Bitcoin Is Loved By The Hackers?

criminal bitcoin

Bitcoin – A close session at a conference in a central-London hotel was conducted by the representatives of crime agencies like FBI, MI6 and Majesty’s Revenue and Customs in March 2009. The topic of discussion was the possible use of digital currencies by the terrorists and criminals.

Simon Moores, who is a former technology ambassador for the British government conveyed the session as chairman of the international e-Crime Congress says that everyone was looking very exercised regarding the Second Life at that time.

Launched in 2003, the online virtual world allows the users for buying goods in virtual Linden Dollars, which was named after the Linden Lab.

Moores further added that dirty people were utilizing this currency for shopping virtual Picassos worth $ 500,000 as a method of money laundering.  In his notes, he writes that I am still digesting the wonderful scale of criminal chances and the money that can be laundered without any control of governments and law-enforcement agencies.

Conditions after years of conference

After more than a decade in the age of digital evolution, that type of same agencies is looking to absorb the effect of a bigger range breach of cyber security and the possible vast implications for the present currency loved by criminals that landed online prior to some weeks of the London Conference.

Victims affected by the WannaCry ransomware attack that starts on Friday get a message on their computer screens. The message features that pay us $ 300 in the next 72 hours if you want to have access to your computer files again.

This ransomware spreads automatically in the computers that have out of date security patches. Some of the major organizations affected by this are NHS, Australian railways, and a French car plant.

The bitcoin has become the preferred currency of the cyber criminals who want to launch ransomware attacks. There are more than six million people of digital wallets in the different parts of the world.

Bitcoin Advice

All posts published by the Bitcoin Advice Editorial Team combined. Primary objective is to provide quality content to our readers.

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