Businesses Ready To Pay Bitcoin Ransoms

A U.K. corporate networking firm has found some intriguing patterns emerging among corporations as the risk of cybercrime grows. Researchers at Citrix this month found evidence that businesses are shoring up reserves of bitcoin so they can pay ransoms as quickly as possible should they be hit with ransomware.

The research emerges following several high-profile ransomware attacks on businesses in which the firms have decided to pay the ransom – in bitcoin – in order to regain control of their systems.

Earlier this year, multiple hospitals were hit with such a cyber attack; one hospital in Los Angeles paid out $17,000 in bitcoin to hackers, reports said, following reports of a similar attack hitting a town’s local government entities.

A survey by Citrix suggests businesses are reacting to these events by stockpiling bitcoins. The company surveyed 250 IT and security professionals across U.K. businesses – one-third said they were shoring

Read more ... source: TheBitcoinNews