How Bitcoin helped fuel an explosion in ransomware attacks

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We hope you understand, and consider subscribing for unlimited online access. Digital currency Bitcoin is variously promoted as an alternative to gold, a good way to make international transfers, or the future of another case of bitcoin ransomware. New research suggests that companies are now stockpiling Bitcoin for a different reason: Ransomware, as it is called, has locked up the data of huge numbers of individuals and businesses in recent years.

Many of them, including police departments and hospitals, have opted to pay up to get their data back. A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in another case of bitcoin ransomware event ransomware strikes their network.

Out of IT and security workers at U. Almost half of respondents in the Citrix survey said that company data was not backed up at least daily. Security experts advise that backups are the best defense against ransomware and generally discourage paying off ransomware, since it encourages the industry. Holding Bitcoin in reserve could help a company without backups get back online faster.

Most companies have no reason to have a Bitcoin account otherwise. Catch up with our coverage of the event. The future of home movies is shooting them in 3-D and playing them back in VR. Men are less likely to do another case of bitcoin ransomware than women, and mixed-sex pairs least likely of all. A new prototype gets at how—and why—manufacturers and product designers might benefit from a blockchain. Everything included in Insider Basic, plus the digital magazine, extensive archive, ad-free web experience, and discounts to partner offerings and MIT Technology Review events.

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Connectivity Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals The rise of malware that holds data hostage has led companies to buy Bitcoin to use as ransom in case of an attack. The blockchain "duck test" CryptoKitties are not a security This VR point-and-shoot camera will let you rewind your life and relive your memories. Researchers wonder what it means when you keep your phone out without using it. Meet the blockchain for building better widgets, cheaper and faster.

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