If Bitcoin Went Away, would Ransomware be Defeated?

by | Feb/15/2017

It is day four of the massive RSA security conference, and it is incredibly enjoyable to be gathering the latest security information. Was visiting over lunch with a gentleman from London, and he made the comment that Ransomware would no longer exist, were it not for Bitcoin.

He pointed out that governments and banks are getting much better at tracking wire transfers.  The way ransomware attackers can remain anonymous is through requiring ransomware payments via Bitcoin. But, alas, Bitcoin is not going to go away.

Some people, as controversial as it sounds, feel that ransomware has a bright side. If an organization gets infected with ransomware, at least they know their systems have been compromised. Other successful hacks may not become obvious to the victim for months or even years. When an organization gets infected with Ransomware, then hopefully they will shore up their defenses, and that naturally helps protect them from many other attacks as well.

The security solutions demonstrated here at RSA are very powerful. And, for better or worse, so are the new attack vectors that are almost impossible to protect against.

The conference is exciting and depressing all at the same time. There is a lot of hype, and, when filtered through, a lot of hope. One thing is for sure, if you end up in the cross-hairs of attackers, well, let’s just hope you don’t.