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Where Does One Find Bitcoin to Pay the Hacker When Your Computer is Locked? An ATM, Of Course!: Cybersecurity Trends
Needless to say, cybersecurity and its challenges have become even more of a hot topic than ever, with ransomware stories becoming more prevalent (here are two stories we’ve covered in just the last two weeks). If you want to learn more about how to prevent ransomware attacks, read below. Regardless, based on a recent article, the currency used to pay those hackers their ransom is easier to come by than ever.
In the Ride the Lightning blog (Yes, You Can Get Bitcoins from an ATM), Sharon Nelson notes that she discovered a Bitcoin ATM in her local Shell station, which came with a sheet of instructions (replicated on her company site here). The sheet of instructions includes a list of other places where you can find Bitcoin ATMs in the D.C. Metro area including other gas stations, two laundromats and a falafel shop. Sharon took a photo of the ATM, which is displayed in her blog via the link above.
For those who don’t know, Bitcoin is a cryptocurrency and a digital payment system that was released as open-source software in 2009. According to Wikipedia, over 100,000 merchants and vendors accept bitcoin as payment as of February 2015.
There’s even a site where you can get started with Bitcoin, which says “Bitcoin isn’t owned by anyone. Think of it like email. Anyone can use it, but there isn’t a single company that is in charge of it. Bitcoin transactions are irreversible. This means that no one, including banks, or governments can block you from sending or receiving bitcoins with anyone else, anywhere in the world. With this freedom comes the great responsibility of not having any central authority to complain to if something goes wrong. Just like physical cash, don’t let strangers hold your bitcoins for you, and don’t send them to untrustworthy people on the internet.”
Like cyber-hackers who hold your data for ransom, perhaps?
There’s even an investment market for Bitcoin. Ars Technica published an article yesterday that noted that the price of Bitcoin has doubled just in 2017 and that a Marketwatch analysis showed that an investment of $1,000 USD in Bitcoin in July 2010 would be worth more than $35 million today! Wow!
Hopefully, you only have to find out about Bitcoin for investment purposes, not because some cyber-hacker forced you to do so. Ransomware attacks, and what to do about them is one of the topics we’ll be discussing at our webcast on Wednesday, May 31. For more info on where to register, click here.
So, what do you think? Have you ever owned Bitcoin or been involved in a Bitcoin transaction? As always, please share any comments you might have or if you’d like to know more about a particular topic.
Disclaimer: The views represented herein are exclusively the views of the author, and do not necessarily represent the views held by CloudNine. eDiscovery Daily is made available by CloudNine solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Daily should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.