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Credit to Author: Ryan Francis| Date: Fri, 03 Mar 2017 12:51:00 -0800<\/strong><\/p>\n Ransomware is running rampant. The SonicWall GRID Threat Network detected an increase from 3.8 million ransomware attacks in 2015 to 638 million in 2016. According to a Radware report, 49 percent of businesses were hit by a ransomware attack in 2016. Quite often the attacker asks for some amount of cybercurrency \u2013 usually Bitcoin \u2013 in exchange for providing a decryption key. <\/p>\n One question this raises is whether ransomware attacks would decrease if Bitcoin ceased to exist? Security experts answer that question with a resounding \u201cno\u201d, indicating that cybercriminals would just move on to another anonymous payment method to continue their extortion. <\/p>\n “Getting rid of Bitcoin to stop ransomware would be like the U.S. Government getting rid of $100 bills to try to stop drug dealers from laundering their dirty money. It\u2019s not the right solution. Would it momentarily create a bump in the road for cyber attackers who are making millions off of ransomware? Absolutely, but only for a fleeting moment,\u201d said Richard Henderson, global security strategist at\u00a0Absolute<\/a>. <\/p>\n He added that attackers will just switch to any of the dozens of other popular virtual currencies, or switch to other easily launder-able instruments like prepaid credit cards. \u201cRemember, the GreenDot MoneyPak was a favorite among cybercriminals not too long ago. Attackers will just find another way to get paid.\u201d <\/p>\n While paying the ransom is highly discouraged, many of the security experts said the only way to seriously reduce ransomware is through user education. <\/p>\n To continue reading this article register now<\/p>\n Learn More<\/a> Existing Users Sign In<\/a> <\/p>\n