Ransomware gangs are feeling the crypto winter’s impact

July 6, 2022 – Published on TechSpot

Cryptocurrency prices have crashed over the last couple of months. The biggest of them all, Bitcoin, which hit a record of almost $68,000 late last year, is now hovering around $20,000. The crash has been felt by companies that deal in digital assets, cryptominers, and even entire countries.

The falling price of crypto is also being noticed by ransomware gangs who demand it as payment from victims. As reported by CNET, Mark Lance, vice president of cyberdefense and a ransomware negotiator at GuidePoint Security, writes that the criminals now have to ask for more crypto so they receive the same amount when it’s converted into dollars. That can often make the demands look even larger, even though the dollar amount asked is the same.

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