Unlike the traditional financial system transactions in cryptocurrencies do not have much vigilance. This is because Bitcoin is considered a means of barter or exchange and is not considered a coin or a currency, so they are virtually out of money laundering control systemsRecent episodes of ransomware have raised the Bitcoin Stock Price, this is because the amount requested to decrypt user data should be paid in bitcoins, so victims of ransomware have pushed the Bitcoin Stock Price up sideways. This shows us how the value of currencies is determined according to market demand.

bitcoin stock price influence by ransomware

Bitcoin, the cryptocurrency of the pirates

As a result of this increase in the bitcoin stock price, the pirate author of ransomware ends up earning many more dollars than originally collected.

This cryptocurrency, is ideal for this type of payment, becouse blockchain technology has solved delivery problems and anonymity and distance.

While the digital currency is traceable, because it registers every transaction from its origin to the virtual wallet, does not register the identity of the holder, in any of its stages.

For the relevant purposes, it is not different from a $ 100 bill, except that the numbering can not be taken for subsequent follow-up.

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What is a Ransomware?

A Ransomware performs a “virtual hijack” of information, that of a company or even a government entity, but here what this type of cyber attack does not stop.

Although less known than others, such as malware or phishing, Ransomware can embarrass companies that handle critical information such as banks or states. This is what affected 74 countries on 12 May 2017 attack called “Wannacry“.

peyta ransomware attack

What is and how does ransomware work?

Specifically, ransomware virus type are those that block access to files on a computer with the aim of requesting a ransom.

Ransomware is different from a traditional virus because it does not destroy or corrupt information, but rather look for valuable files to request a ransom. The ransomware seeks to identify information in database format or files, leaving aside the operating system are the ones that, in general, break your computer.

The ransomware infects victims by exploiting a vulnerability in Microsoft. Once they are inside the system, the pirates install a rootkit on the computer that allows them to download the software to encrypt the data.

After the malware encrypts the files appears on the screen a request of US $ 600 in bitcoin and the demand for the rescue increases with the passage of time.

This digital attack, which affected 74 countries and violated safety nets in 45,000 attacks, had an additional spice. It was not a simple act of malware, which is the type of attack usually used by cyberanarchists to generate irreparable damage, the purpose of these attacks was a rescue by the data obtained.

The group of hackers that would be behind the massive attack would be Shadow Brokers. This group of hackers became recognized in 2016 due to several computer attacks that they made with tools stolen from the NSA.

Something similar happened Netflix two weeks before when a group of hackers got into the servers of one of its suppliers and obtained archives of its star series “Orange is the new black”. The rescue order was for not filtering the chapters in The Pirate Bay, which is a well-known torrent site.

Netflix didn’t pay the requested ransom: because with the loss of popularity of torrents and Netflix subscriptions rise, they thought that it wasn’t necessary to make the payment of the ransom. This led to the chapters in the series “Orange is the new black”, unfortunately, were leaked.

Of course, another is the scenario when it comes to critical information, such as those handled by public agencies, financial and banks.

bitcoin-wallet

Is it advisable to pay?

The answer to “if it is convenient to pay Ransomware to recover the information ?” it’s not simple.

For some companies, generally, it is not an option, although perhaps, it is, for an end user. Actually, there are no guarantees. The percentage of companies, that have paid the rescues and that have received an unlock code, has not reached 15%.

Performing the Ransomware Rescue Payment only feeds the cybercriminals business and does not guarantee to recover the data.
The BBC did a report which indca in the May attack payments reached the sum of US $ 28,500 approximately.

What is the difference between malware, viruses, worms, spyware, trojans & ransomware?

You’ve probably heard of viruses, trojans, worms,  spyware, malware, ransomware. But you probably don’t know
what is the difference between them. Usually all of those terms are usually typed under the word virus, but this is incorrect.

Worms, Trojans, viruses and other malicious software are classified as malware, which literally means malicious software.

The word “malware” defines a type of software that has the objective of infiltrating a computer or computer system without the consent of the user. Depending on the effects and how to infect the computer or device, the malware is classified into several types ranging from computer viruses to worms, trojans, adware, ransomware, spyware and other malicious programs.

Recent episodes of ransomware have raised the Bitcoin Stock Price

What is the Bitcoin Stock Price today?

The bitcoin stock price today is around USD 2400. The attractiveness of Bitcoin mainly, is the evolution that has had its price: went from USD 700 to USD 2700 in the month of May, from becoming the cryptocurrency of the pirates, until from June 21, when the bubble was pricked and its value began to fall.

The question is, if now, with the new Peyta attacks, and be the cryptocurrency requested in the ransomware happened, the bitcoin stock price, will rise again?

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On 27 June, a new cyberattack hit countless institutions, companies and banks from Ukraine, Russia, Spain, France, Germany, Denmark, UK, India, Norway and the United States were the new victims of “Petya“, a variant Of the malicious software “WannaCry” that attacked different countries in May.

After a month and a half since the attack “WannaCry” which put on alert hundreds of companies and multinationals around the world, hackers have returned to global action against public and private institutions.
So far, the list of affected institutions is composed of at least 80 companies from different sectors located in countries such as United Kingdom, India, United States, France, Ukraine, Russia and Spain.

In this list are some multinational companies such as Nivea, the British advertising company WPP, the food company Mondelez (which includes brands such as Milka, Tang, Oreo and Toblerone), Auchan, Russian oil company Rosneft, Merck Sharp & Dohme and some infrastructures of Ukraine, which are critical, such as the computer systems of its airports, the Chernobyl radiation measurement systems, the state energy company and even its National Bank.
Apparently the virus originated in Russia and Ukraine and, from there, has spread worldwide.

Ukraine seems to be the country that has most felt this attack, because activities have been paralyzed in some airports, government systems and even hospitals.

Like the one that happened in the month of May with the attack WannaCry, in this occasion the system used by the hackers also is the one of the ransomware. That is to attack a computer system, encrypt all the files and request the payment of a ransom in exchange for releasing and returning the information.

The Petya virus shows, on the computer screen, a message that says:

“If you are viewing this text, your files are no longer accessible because they have been encrypted. You may be very nervous looking for a way to recover your files, but do not waste your time. No one can recover your files without our decryption service. “

Then, the message explains that to decrypt the information it is necessary that you pay a ransom of 300 dollars in Bitcoin. Once the ransom has been paid, pirates promise to retrieve all the information simply and safely through a deactivation code that they promise to send.

bitcoin is a sure bet

Bitcoin is a Sure Bet?

The question that all are asked is “Bitcoin is a means of payment with legitimate projection or a trendy digital currency?”,  among other questions.

Most people still don’t understand what a bitcoin is. The good news is, that now, it’s much easier to buy them, than to understand what is this digital currency.

The Bitcoin and the Bitcoin Stock Price has already gone through several stages and has as many detractors as many fans. But the concrete thing is that each time, there are more countries that accept Bitcoin as currency, as happened a few days ago in Japan. And most agree, that Bitcoin be used for transactions.

With respect to bitcoin stock price, it is known from the day of its birth that there will be 21 million units, an algorithm will create until the year 2040. Therefore, the quantity of Bitcoins in existence is limited, and that it can not grow to infinity. And for this is why the Bitcoin Stock Price rise with the demand.

All the financial Bitcoin engineering is mounted on an absolutely inviolable platform turned out to be the most valuable product: and is called “blockchain“.

It is extremely simple to accumulate Bitcoin and bet that it will be the currency of the future. Despite the fact that Bitcoin Stock Price still has high volatility, in recent years its trend was upward.

Although there were some moments of doubt, even in them, it resumed the bullish path. Will the Bitcoin Stock Price rise again after these new attacks?

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