The fight against Ransomware attackers is getting new sustainers. Directly from White House! How could influence this the crypto space.

The fight against Ransomware attackers is getting new sustainers. Directly from White House! How could influence this the crypto space.

By VNFC | crypto sessions | 5 Jun 2021


The hacking is not a new concept. From simple and innocent actions to more elaborated and a lot of money lost because of it, any of these actions are in the category of hacking.

Also this term has some sub categories, related to what are the perpetrators want.

You can read more here - https://www.jigsawacademy.com/blogs/cyber-security/different-types-of-hackers/

or here:

https://www.techfunnel.com/information-technology/different-types-of-hackers/

or you can search on the internet the types of hackers "living" around the globe and maybe you'll find something interesting about what nations have the most "talented" bad influenced beings.

There are many articles like this and you be enlightened if you are not familiar with what the hackers do and why.

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The conclusion is: the hackers could be with good (to find sensitive points of the systems for repairing it) intentions or bad ones (when they are having criminal intentions - to steal data for getting profit, blocking systems for asking ransoms, etc)

So, this is the context.

We are living in an imperfect world, but this is also good, because without dangers, you cannot strive, we will become weak. So, let's continue!

The last issue happened in the US and Australia few weeks ago:

"Brazilian meat supplier, JBS, was the victim of a ransomware attack that’s been affecting their systems for the past two days. Across its North American and Australian businesses, work has ground to a halt for thousands of employees.

Due to the attack, 7,000 workers in Australian slaughterhouses and at least 3,000 workers across the U.S. and Canada have had working shifts canceled."

This is hurting thousands of people, making losses of millions and is provoking big disturbance in the economy.

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Because this is only the last major hacking crisis, the White House decided to get a Combat Plan for avoiding this kind of actions in the future. There are four major directions to follow:

" 1. Distribution of ransomware infrastructure and actors working closely with the private sector.

  1. Building an international coalition to hold countries who harbor ransom actors accountable.

  2. Expanding cryptocurrency analysis to find and pursue criminal transactions.

  3. Reviewing U.S. ransomware policies."

How is this going to influence crypto markets, privacy, decentralization and censorship resistance of coins, we will find in the next months, but:

despite of SEC and US regulations, crypto will always exist - even if will be forbidden to be traded on centralized exchanges, Peer 2 Peer will always be a solution.

As we could see now, it's not necessary to use only privacy coins like Monero, Zcash or Beam for being untraceable. A lot oh hackers are asking ransoms in Bitcoin. This is because BTC is censorship resistant and you can have enough anonymity to leave without worries after receiving an amount in your wallet.

Only the foolish are caught.

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So, even if SEC is having trials with Kraken, Ripple, LBRY, maybe soon with Binance and others, even if BTC or ETH would be traded on centralized exchanges only by users with KYC and the decentralized exchanges will be outlaws, even the market will suffer for a while and the bear market will spread the claws to the whole crypto space, there always be a place where criminals could act as they whish, so only the good guys will suffer.

This is my opinion regarding what is happening if new rules will appear for crypto space. I don't have a solution for stopping criminals. Maybe using private blockchains to block 51% attack. Maybe. I am not sure now, but it could be a solution.

What do you think?

 

 

Lead Photo by Anete Lusina from Pexels

 

 

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VNFC
VNFC

we wait and we shall see what the world is bringing to us tomorrow


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