{"id":268399,"date":"2021-06-07T13:13:51","date_gmt":"2021-06-07T10:13:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cryptos-dark-underbelly-exposed-in-ransomware-attack-u-s-senator-says\/"},"modified":"2021-06-07T13:13:51","modified_gmt":"2021-06-07T10:13:51","slug":"cryptos-dark-underbelly-exposed-in-ransomware-attack-u-s-senator-says","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cryptos-dark-underbelly-exposed-in-ransomware-attack-u-s-senator-says\/","title":{"rendered":"# Crypto\u2019s dark underbelly exposed in ransomware attack, U.S. senator says"},"content":{"rendered":"

“# Crypto\u2019s dark underbelly exposed in ransomware attack, U.S. senator says <\/strong>”
\n<\/p>\n

United States lawmakers have deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks that befell U.S. institutions in the past month, and opinions app<\/a>ear to be mixed.<\/p>\n

The largest fuel pipeline in America was brought to a halt in early May when hackers infected the computer networks of Colonial Pipeline. Food packing company JBS was hit with a similar attack. Colonial Pipeline has since paid<\/a> a reported $4.4 million in ransom.<\/p>\n

Democratic Senator Mark Warner addressed the matter during NBC News<\/a>\u2019 Meet the Press<\/em><\/a> on June 6, where it was put to him by reporter Chuck Todd that banning cryptocurrencies entirely could curb the growing trend where cyber-attackers demand ransom in Bitcoin (BTC) and other cryptocurrencies.<\/p>\n

Warner disagreed that crypto should be banned entirely, adding that good things had come out of distributed ledger technology<\/a>, but that its dark underbelly was now being exposed.<\/p>\n

\u201cI\u2019ve got a lot of questions about crypto. There were some good things coming out of distributed ledger technology, but we are now seeing some of the dark underbelly […] and that’s why I’m focusing more on transparency,\u201d he said.<\/p>\n

Warner claimed certain cryptocurrency \u201csystems\u201d could already be breached by authorities if they so desired. However, he said stopping the technology would simply redirect criminals towards different technologies. <\/p>\n

\u201cThe truth is there are ways that we can break through some of these systems, but […] if there’s not some transparency of that payment, the bad guys will simply find another way to hide it,\u201d said Warner.<\/p>\n

Republican Senator Roy Blunt suggested cryptocurrency shouldn\u2019t be left to run behind the scenes of criminal activities, arguing that cryptocurrency had become the main tool of ransomware attackers owing to its untraceable nature and ease of use.<\/p>\n

\u201cWe have a lot of cash requirements in our country, but we haven’t figured out in the country or in the world how to trace cryptocurrency. So, one, fairly easy to do. People almost always pay the ransom. There are very few consequences. And you can’t trace the ransomware \u2014 the ransom payment of choice now. And we’ve got to do a better job here,\u201d said Blunt. <\/p>\n