November 28, 2022

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WSJ says “Ban Cryptocurrency to Fight Ransomware” (relax folks, its an opinion piece)

1 min read

The Wall Street Journal editorialising on “The existence of bitcoin and the rest benefits nobody except criminals and speculators.”.

WSJ point to the latest (AFAIK) example of a ransomware attack, Colonial Pipeline. And:

  • nearly 2,500 cases of ransomware reported to the Federal Bureau of Investigation last year
  • ransomware victims paid hackers $350 million in cryptocurrency last year

Says the article:

  • The solutions floated after the Colonial hack—improved cybersecurity in the private sector and public-private collaboration to protect critical infrastructure—are pro forma and inadequate. There is a simpler and more effective way to stop the ransomware pandemic: Ban cryptocurrency.
  • Ransomware can’t succeed without cryptocurrency. 

Shady looking character:

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