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FBI Investigates Bitcoin Wallet Data of Ransomware Attackers

07-Sep-2022 By: Ashish Sarswat
FBI Investigates Bit

The FBI, the Cybersecurity and Infrastructure Security Agency, the Multi-State Information Sharing and Analysis Center released a joint advisory seeking information to combat ransomware attacks. 

As part of the #StopRansomware campaign, the joint cybersecurity advisory warned citizens of Vice Society about a ransomware-like malware. It was found that the malware encrypts data and demands a ransom for decryption.

The trio anticipates an increase in ransomware attacks noting that school districts with low cybersecurity capabilities and limited resources are frequently the most vulnerable. These attacks primarily targeted educational institutions.

While preventative measures against ransomware remain crucial, the FBI has urged US residents to provide information that might assist track down the hackers. The FBI is looking for Bitcoin (BTC) wallet information, ransom letters, and IP addresses associated with the attacker.

By using wallet addresses, authorities can track down illegal transactions on Bitcoin's immutable blockchain without fear of the trail going cold.

Bitcoin allows for frictionless cross-border transactions. Most attackers choose to fund their unlawful activities with fiat currencies. It was also discovered that only 0.15% of blockchain activity in 2021 was tied to criminality. And this figure has been steadily decreasing year after year.

Furthermore, the three federal agencies strongly discourage Americans from paying ransom since payment does not ensure the recovery of victim files. Individuals victimized by ransomware attacks can report the facts by visiting a local FBI office or communicating with the FBI through official channels.

Read also: Trademark Application for Cryptocurrency, NFT and Metaverse Surge in 2022

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