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)

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

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expert Stephen Addison explains that small cities are more susceptible to such black swan events since they have outdated equipment. 

“What these [criminals] have learned is that small towns tend to have outdated systems,” Addison said.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

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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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