FBI Seeks Bitcoin Wallet Information of Ransomware Attacks

The Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency, and the Multi-State Information Sharing and Analysis Center issued an alert to gather data to prevent ransomware attacks. In support of the #StopRansomware campaign, the joint cybersecurity advisory warned users about Vice Society, a program similar to the ransomware that encrypts data and requests a fee to recover it. The federal agency trio predicts an increase in ransomware attacks, particularly against educational facilities, and notes that school districts with low cybersecurity capabilities and limited resources are generally the most susceptible. Key Information To Seek The FBI requested US residents to disclose information that helps monitor the whereabouts of the hackers, even though preventive steps are still crucial to combating ransomware. The FBI is particularly interested in IP addresses connected to the attacker, ransom letters, and Bitcoin (BTC) wallet information. Authorities can trace illegal transactions on Bitcoin’s irreversible blockchain using wallet addresses without worrying about the trail going cold. Use Of Fiat Currencies Even while cross-border transactions using Bitcoin are frictionless, the majority of attackers choose to use fiat money to finance their illegal operations. Additionally, it was found that in 2021, just 0.15 percent of activity on blockchains was criminal, a figure that has been steadily...