November 30, 2021

US Presses Crypto Exchanges To Block Ransomware Profits

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The Justice Department is creating a new team to investigate and prevent hackers from using cryptocurrency exchanges to remain anonymous while extorting money from victims of their attacks, Deputy Attorney General Lisa Monaco said Wednesday. From a report: The main goal of the new enforcement team is to take down the infrastructure and “criminal supply chain” that allows hackers to carry out ransomware attacks in which victims’ data is frozen until they pay a ransom, Monaco said. “Cryptocurrency exchanges want to be the banks of the future,” Monaco told the Aspen Cyber Summit. “We need to make sure that folks can have confidence when they use these systems.”

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