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The ransomware surge

bbc.com

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Re: The ransomware surge

#41

Post by rawtxapp »

seibelj wrote: post #36
sneak wrote: post #3

This is going to be the rationale given for the heavy-handed cryptocurrency regulation they're going to bring down on all the exchanges that US persons can access. Pretty soon all you'll be able to legally access as a USian is "Bitcoin!(tm)"[1] (like what PayPal is doing), not the actual uncut blockchain bitcoin that you can send and receive at will. [1]: https://www.epsilontheory.com/in-praise-of-bitcoin/

Will increase the utility of decentralized exchanges like Uniswap and DeFi in general. The more CEX gets regulated the less people will want / need to use them.

Yep, that's what people don't understand, you can ban centralized entities as much as you want, but you can't stop people from running arbitrary code on their devices which means it's impossible to shutdown a properly decentralized network.

Re: The ransomware surge

#42

Post by curiousgal »

davethedevguy wrote: post #6

The difficulty with ransomware attacks and the like, is that it's less a technical problem and more a people problem. IT departments will never have enough money/time/staff to keep systems up to date with the latest OS (look at the number of people still running critical systems on Windows XP). Users will always open attachments from people they don't know, click links, or even pick up random USB sticks. The perpetra…

> Users will always open attachments from people they don't know, click links, or even pick up random USB sticks.

One bank I interned at sent people an email about the weather or something to that extent and each link had a unique identifier. Shaming each individual user is the best way for them to learn.

Re: The ransomware surge

#43

Post by RcouF1uZ4gsC »

billytetrud wrote: post #27
RcouF1uZ4gsC wrote: post #23

I think it is likely that there will be a real world kidnapping where the kidnappers demand a Bitcoin ransom. Once this happens, Bitcoin will get rapidly regulated out of existence by governments. Imagine if it follows the usual stereotypical news coverage. An attractive, photogenic American woman goes to a foreign country and gets kidnapped. Later the kidnappers send ransom demands with a Bitcoin address. This would…

Kidnappers can also demand dollars for ransom. Are governments going to regulate dollars out of existence? Or are you saying they'll just use it as an excuse to harass bitcoin?

Dollars are a little different in that transferring large amounts anonymously is hard.

Collecting the ransom is probably the point of highest vulnerability and that is something law enforcement agencies like the FBI have used to catch kidnappers.

However, with cryptocurrency, that vulnerability is mitigated a lot, and that completely changes the dynamics.

There is a reason, the ransomware attackers aren't demanding suitcases of cash at pre-ordained meeting sites.

Re: The ransomware surge

#44

Post by _wldu »

temp8964 wrote: post #39
davethedevguy wrote: post #6

The difficulty with ransomware attacks and the like, is that it's less a technical problem and more a people problem. IT departments will never have enough money/time/staff to keep systems up to date with the latest OS (look at the number of people still running critical systems on Windows XP). Users will always open attachments from people they don't know, click links, or even pick up random USB sticks. The perpetra…

Is it true that hack any random staff / computer of the company can lead to the ransomware attack of the machine holding the crucial data of the company?

It is probably more true in "Corporate America" where MS Windows Active Directory is in use and all the computers are domain joined and have read/write access to file servers.

Re: The ransomware surge

#45

Post by bastiantower »

amelius wrote: post #24
danuker wrote: post #16

Earlier quoted context omitted.

4. It snuffs those pesky troublemakers and brings them back in line through monetary inflation across generations.

Monetary inflation can also be a good thing as it reduces wealth inequality and income inequality.

It doesn't, quite the contrary. Poor and middle class people hold much more of their wealth as cash than rich people.

Re: The ransomware surge

#47

Post by danuker »

amelius wrote: post #24
danuker wrote: post #16

Earlier quoted context omitted.

4. It snuffs those pesky troublemakers and brings them back in line through monetary inflation across generations.

Monetary inflation can also be a good thing as it reduces wealth inequality and income inequality.

Only if the newly-created money is distributed, and doesn't just belong to the Federal Reserve.

As the system works now, the Federal Reserve prints the money and gets to spend it, and I can't imagine a more unequal income.

Re: The ransomware surge

#48

Post by rawtxapp »

amelius wrote: post #24
danuker wrote: post #16

Earlier quoted context omitted.

4. It snuffs those pesky troublemakers and brings them back in line through monetary inflation across generations.

Monetary inflation can also be a good thing as it reduces wealth inequality and income inequality.

More like increases inequality [1][2]. If you're rich, you have access to rock-bottom interest rates which you can then invest. If you're an average citizen, you watch all asset values (real estate to start with) soar while your income stays relatively stable.

1: https://www.clasp.org/blog/how-inflation-reinforces-economic...

2: https://www.theatlantic.com/ideas/archive/2019/11/income-ine...

Re: The ransomware surge

#49

Post by [deleted] »

djoldman wrote: post #20

Can someone tell me where I'm wrong here: The solution to ransomware is to daily mirror every system to an append only backup and then just flash everything back if you get hit. You lose a few days...

[deleted]

Re: The ransomware surge

#50

Post by spaced-out »

RcouF1uZ4gsC wrote: post #23

I think it is likely that there will be a real world kidnapping where the kidnappers demand a Bitcoin ransom. Once this happens, Bitcoin will get rapidly regulated out of existence by governments. Imagine if it follows the usual stereotypical news coverage. An attractive, photogenic American woman goes to a foreign country and gets kidnapped. Later the kidnappers send ransom demands with a Bitcoin address. This would…

You're at least four years too late. https://www.vice.com/en/article/zmvn44/kidnappers-around-the...
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