Large British enterprises stockpiling Bitcoin to pay off ransomware attackers

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.

Copyright Lyonsdown Limited 2021

Top Articles

Indian state government website leaked COVID-19 test results of millions

A security flaw in a website run by the West Bengal Government in India enabled a hacker to access COVID-19 test results and other personal information of millions of Indian…

Industrial IoT: Finding pre-existing threats inside industrial control systems

Industrial Internet of Things (IIoT) devices are a pressing concern for security teams.

PrismHR outage possibly caused by a ransomware attack, experts believe

PrismHR suffered a cyber attack last week which forced it to shut down its flagship software that serves thousands of organisations worldwide.

Related Articles