FBI: Ransomware threats similar to 9/11 attacks

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The Federal Bureau of Investigation (FBI) is investigating approximately 100 varieties of ransomware, the Wall Street Journal reported on Friday, June 4. These challenges, many of which originate in Russia, are similar to the 9/11 attacks, aagency Director Christopher Wray told the WSJ.

“There are a lot of parallels, there are a lot of importance and we focus a lot on disruption and prevention,” Wray told the WSJ. “There is a shared responsibility not just in government agencies, but in the private sector and even the average American.

Attacks on meat-processing giant JBS and fuel supplier Colonial Pipeline have prompted US President Joe Biden to identify ransomware as a national security threat. The Colonial Pipeline, based in Alpharetta, Ga., Is one of the largest in the United States, carrying approximately three million barrels of fuel per day over 5,500 miles from Houston to New York. He reportedly paid around $ 4.4 million to regain control of his operations and restore service.

Earlier this month, the former Securities and Exchange Commission (SEC) lawyer John Reed Stark said digital currency investors facilitate criminal activity of hackers. He called crypto “the essence of ransomware,” according to the WSJ.

Senior FBI officials compared the cyber attacks to the post 9/11 maneuver against international terrorism. Wray said recent ransomware attacks have shed light on how they affect Americans every day.

Stark told CNBC on Thursday (June 3) that cryptocurrencies are essentially useless, calling them “the essence of ransomware”. Numerous incidents of ransomware attacks have been reported require payment in bitcoin or other cryptocurrency.

The US Department of Justice said this month that ransomware attacks are now a priority. The Colonial Pipeline hack, for example, threatened the fuel transport for several days. As PYMNTS reported, White House cybersecurity officials take these threats seriously.

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NEW PYMNTS DATA: STUDY ON CRYPTOCURRENCY PAYMENTS – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.







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