For a long time, ransomware hackers have been looking for ways to move a lot of money without being tracked or caught by loopholes, and bitcoin has supported this because of its fast, easy process and the difficulty involved in tracing.<\/p>\n\n\n\n
With the Colonial Pipeline and the recent JBS attack, which paid millions of dollars in bitcoin to retrieve its systems, bitcoin and other cryptocurrencies have created a way for cyber hackers to extort huge sums from private and public organizations.<\/p>\n\n\n\n
If the hackers are based in countries like Russia, it will be difficult to track down this money.<\/p>\n\n\n\n
Although cryptocurrencies are held in “public ledgers,” meaning that anyone can watch online, the fact that those involved in a transaction are disguised with a random number allows hackers to move the currency from one anonymous account to another, making it difficult and almost impossible to track.<\/p>\n\n\n