Large British enterprises stockpiling Bitcoin to pay off ransomware attackers

Large British enterprises who regularly stockpile cryptocurrency to pay off ransomware hackers now constitute over half of all firms, up from 33 percent in 2016 and 42 percent last year.

British companies are hoarding Bitcoin and other types of cryptocurrencies in large numbers to pay off hackers in the event of ransomware attacks to avoid the kind of reputational damage that the NHS suffered.

Over the past year, not only have more and more large enterprises in the UK decided to invest in cryptocurrency, a large number of them have also diversified their holdings, thereby not placing their entire bets on individual cryptocurrencies like Bitcoin, Etherium, or Ripple.