Cryptocurrencies like bitcoin may become a target in the fight against ransomware

David A. Kris CSIS ransomware bitcoin nationa securityDavid S. Kris speaking at a CSIS panel event in September 2016.CSIS

Many crimes can be solved by following the money, and that may hold true for the growth of ransomware attacks — though the money itself may be different.

Countering the increasing use of ransomware — malware that attacks computers and networks and encrypts files, which criminals then demand payment in order to decrypt — may require action against hard-to-trace cryptocurrencies like bitcoin that are often used to pay the criminals behind the attacks, according to David S. Kris, former assistant attorney general at the US Department of Justice’s national-security division.

“I think the way to attack this — and I think the way you’re probably going to see some legal change over the next few years — is on the other end, with respect to the payments,” Kris said during the question-and-answer session of a Center for Strategic and International Studies panel event.

“And as I understand it — again, without having studied it too extensively — is that, you know, fintech is what is enabling this, cryptocurrency,”

Read more ... source: TheBitcoinNews