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Bitcoin (BTC) Ransom: Hackers Target Multiple US Cities and Demand Payments in Crypto

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Mon, 02/10/2020 - 17:56
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  • Cybercriminals are increasingly targeting small American towns in search for ransom payments in Bitcoin (BTC)

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Hackers are crippling cities across the US by stealing their money and infecting the computers of government employees with ransomware. These bad actors demand that victims make payments in Bitcoin (BTC) to regain access to a compromised network. 

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Small cities are the most vulnerable   

According to Camden News, 114 municipalities in the state of Arkansas have been targeted by cybercriminals over the last two years.      

Cybersecurity expert Stephen Addison explains that small cities are more susceptible to such black swan events since they have outdated equipment. 

“What these [criminals] have learned is that small towns tend to have outdated systems,” Addison said. 

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A global problem    

In June 2019, The Lake City, Florida, actually paid hackers $490,000 to restore its computer files. This happened just a week after another city in the same state suffered a similar cyberattack.  

Of course, the problem with hackers extends far beyond the U.S. borders. Back in October, U.Today reported that bad actors wreaked havoc with South Africa's biggest city Johannesburg. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin (BTC) Price Targets $6,500 Before Future Pullback: Analysts

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  • Two days ago Bitcoin (BTC) failed to conquer a bearish stronghold at $7,000, which sent it to sub-$6,000 areas. When can we expect the next attack?

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Two major cryptocurrency traders and analysts believe that $6,500 may be the final level of this ‘fake rally’ before a new fall for the crypto king.

Relatively calm but targets $6,500

Seasoned crypto trader and analyst Michael van de Poppe recommended his followers to switch their attention towards altcoins.  According to him, many of them may bring profit in the short-term perspective:

$BTC is remaining relatively calm, so you can see alts pop here and there. If $BTC goes in accumulation modus, that will probably be the time that they start to kick off.  Probably during the summer. 

Although, with today's bullish momentum, Bitcoin (BTC) could reach $6,400 and even $6,500 fast.  But once it reaches this level, the U-turn is over and we can brace ourselves for a new decline.

The views of Mr. van de Poppe were shared by CryptoBirb, a prominent analyst and founder of The Birb Nest educational platform. According to him, $6,400-$6,600 is the most comfortable area for the ongoing Bitcoin (BTC) price move.

At printing time, Bitcoin (BTC) trades at $6,340 on major spot exchanges.

Don’t recommend Bitcoin (BTC) to Peter Schiff

Famous ‘gold bug’ Peter Schiff never ceases mocking Bitcoin (BTC), with no regard to bullish or bearish sentiments in the market. Yesterday, he compared the declines from the ATH demonstrated by both his beloved gold and the flagship cryptocurrency. 

Since the Bitcoin (BTC) fall has been five times deeper, he doesn’t have enough words to characterize its advocates. 

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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