Why Bitcoin Is The Preferred Choice Of Payments By Cyberhackers
Invented by Satoshi Nakamoto, an alias that was used but nobody knows his identity Satoshi means quick witted wise, clear thinking. Naka can mean medium. Moto means origin or motion, His identity is a mystery. When Bitcoin became an official cryptocurrency, it gave 2 main advantages to cybercriminals. First of all it is decentralized currency. You don’t need a third party like a bank. Two people can pay each other without using a middleman. The person that you are paying bitcoins to is anonymous. As of today 1 Bitcoin is worth $2329.00. Your wallets where your bicoins are placed can only be identified by numbers. At least 6 to 7 million people have these wallets. You can spend these bitcoins on almost anything now. There are already plenty of retailers around the world who accept bitcoins as payments. You can buy contraband goods in the blackmarket.
There are only simple skills needed to do this . It’s like downloading simple accounts oin the internet. If you can make a google account, you can also do this. Downloading a ransoware toolkit is so easy to do and then you can start dispersing it. You can now money launder your money in the darknet. Your bitcoins will be turned into cash. These toolkit developers make money by taking a percentage of the ransom that is paid this is done by automation . The softwares are kind of sophisticated and very accessible. It can launch attacks at scale. They make the ransom demands affordable . Instructions are given on how to create a virtual wallet and buy enough bitcoins to pay the ransom. In return the cybercriminal will hand you over the code so that the data can be unlocked
on your computer or a network.