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The Average American Sees Crypto Ransomware As A Threat Says Expert

Ransomware Attacks Drop As COVID-19 Grips the World

Christopher Krebs stands as the former director of the US Cybersecurity and Infrastructure Security Agency (CISA). Krebs has given out a recent warning regarding how criminals are capable of deploying ransomware attacks more frequently thanks to crypto.

Krebs Blaming Crypto For Ransomware

It’s no secret that the crypto space has seen a massive increase in adoption throughout these recent months, mainly thanks to institutions and companies accepting digital payment options. In an interview done yesterday on the show Late Night With Bill Maher, Krebs was asked his thoughts on Bitcoin as a whole. Krebs gave a very interesting perspective of the matter, being an expert in cybersecurity.

Krebs, very interestingly, focused on the threat it posed from the cybersecurity perspective. He declared cryptocurrencies as a hole as one of the single most enabling factors out there that have managed to allow cyber-criminals to spread as far as they can when it comes to ransomware attacks. He highlighted that the key reason for this, is due to the anonymous payment capability that cryptocurrencies can promise. This, he warned, is a cyber-threat even the average American is worried about.

No Die-Hard Type Entities For Ransomware

Maher piled on to this, highlighting that around 1,600 schools have already been struck with ransomware attacks, and Krebs went further to highlight the array of government agencies and hospitals struck. He highlighted a number of regions within the US, such as North Carolina’s Mecklenburg County, Atlanta, Louisiana, 23 counties in Texas, as well as Baltimore, in particular.

Krebs hammered home that these threat actors, swindling agencies and institutions for money, are only in it for capital gain. There’s no sophistication or ideology behind it. As an example of more “complex” ransomware attacks, Krebs cited one of the Die Hard movies’ plotlines, for some reason.

Urging For Increased Crackdowns

Krebs subsequently urged that there should be consequences for these “bad guys”. In particular, he urged that the world should start looking at the cryptocurrencies held in exchange wallets, as well as pressuring various countries where cybercriminals dwell to start cracking down on them. Of course, he phrased this in such a way as to mean criminals only targeting the US.

Krebs himself gained surprising popularity after he was fired by Donald Trump, the former President of the US. This is mostly due to how Krebs was openly dismissive of conspiracy theories of election fraud. Krebs is most notable for his push to invest in cyber defenses and education programs for states and local institutions.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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