The US forms a task force to combat ransomware

Syed AhadWeb Editor

16th Jul, 2021. 12:14 am

The White House has established a specific ransomware task force to combat cyberattacks and to focus on identifying cryptocurrency transactions engaged in them, according to sources.

According to the report, the subject was discussed yesterday during a virtual briefing with members of Congress.

The new section will evaluate and track crypto transactions that impacted firms and institutions have sent or will send to ransomware attackers as part of the planned campaign.

Such attacks, in particular, have shown to be exceedingly disruptive and damaging to even huge worldwide corporations.

The attack on Colonial Pipeline, an American gasoline pipeline company, resulted in fuel shortages across the Southeastern United States, and is one of the most high-profile recent cases.

In the end, the firm reportedly offered the DarkSide hacker organisation. “nearly $5 million” in “untraceable cryptocurrency.” Federal authorities, on the other hand, were eventually able to retrieve roughly $4.4 million in Bitcoin.

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