The Role of Cryptocurrencies in the Rise of Ransomware

Cryptocurrency and ransomware have had a long history together. They are so closely intertwined, in fact, that many have blamed the rise of cryptocurrency for a parallel rise in ransomware attacks.

Ransomware attacks are certainly increasing — they rose by 118% in 2018 — but it’s not clear that this is due to cryptocurrency.

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Cryptojacking Overtakes Ransomware as Top Malware in Some Countries

Cryptojacking, the unauthorized use of another’s hardware to mine cryptocurrency, has become the biggest cyber threat in many parts of the world, Bloomberg reported Dec. 14.

According to research from cyber security research firm Kaspersky Lab, cryptojacking overtook ransomware as the biggest cybersecurity threat particularly in the Middle East, Turkey, and Africa.

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Bitcoin’s Killer App is Ransomware, Not Payments: Stripe COO


Stripe, a digital payments provider, took a pioneering role with bitcoin in 2015 when it introduced a tool that allowed merchants to accept bitcoin. This past April, the company discontinued the service.

The company’s COO, Claire Hughes Johnson, told Fortune’s Brainstorm Tech conference Tuesday that the reason behind the firm’s abandonment of BTC is that blockchain-based payment services are slow and not practical.

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