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Bitcoin craze: Are cryptocurrencies a dream come true for cyber-extortionists?

WannaCry victims paid only about $241,000 in bitcoins to extortionists; if everyone infected had paid, criminals would have received at least $60 million

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Nir Kshetri | The Conversation

When malicious software takes over computers around the world, encrypts their data and demands a ransom to decode the information, regular activities of governments, companies and hospitals slam to a halt. Sometimes security researchers release a fix that allows computer owners to decrypt their machines without paying, but many people are forced to pony up to free their data.

In 2016, the FBI estimated that the ransomware industry took in US$1 billion – and that’s only the cases