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Why hackers rely on Bitcoin for ransom payments


They are now even willing to negotiate: After initially demanding $70 million (€59 million), the hackers behind last weekend’s Kaseya cyberattack might settle for $50 million. It would nevertheless be the largest ransom demand in the history of cybercrime. In exchange, the hackers would disable encryption malware — so-called ransomware — that has rendered computer networks of around 1,500 companies worldwide unusable since then. The hacker group REvil is behind the attack. It has demanded the ransom in Bitcoin. Joseph Edwards of cryptobroker Enigma Securities finds it unusual that the extortionists are demanding such a large amount in the cryptocurrency. “This sounds more like a publicity …

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