Companies Stockpiling Bitcoin in Anticipation of Ransomware Attacks - NBC Southern California
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Companies Stockpiling Bitcoin in Anticipation of Ransomware Attacks

The most recent cyberattack, known as "WannaCry," took hundreds of thousands of computers' data files hostage unless users paid a $300 to $600 ransom via Bitcoin

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    Companies Stockpiling Bitcoin in Anticipation of Ransomware Attacks
    Getty Images
    File Photo—A pile of Bitcoins are shown here after Software engineer Mike Caldwell minted them in his shop on April 26, 2013 in Sandy, Utah.

    Companies are stockpiling bitcoins in preparation of future "ransomware" attacks, which have grown exponentially over the past few years, NBC News reported. 

    According to cybersecurity experts and firms, about a third of British companies in 2016 retained a cache of digital monies as part of a strategy to "regain access to important intellectual property or business critical data." 

    They keep Bitcoin on hand — which currently exchanges for about $1,800 per unit — because government agencies don't necessarily have a fix for institutions once hackers have taken hold of their files, and its cybercriminals' preferred payment method.

    The most recent cyberattack, known as "WannaCry," took hundreds of thousands of computers' data files hostage unless users paid a $300 to $600 ransom via Bitcoin.

    Attack Kills 13, Police Kill 5 Suspects in Spain: Officials

    [NATL] 13 Killed in Car Attack in Barcelona; 5 Suspects Killed in Cambrils: Officials

    A white van jumped the sidewalk in Barcelona’s Las Ramblas district on Aug. 17, 2017. Police say 13 people have been killed and more than 100 injured in this terrorist attack. The area is one of the city’s top tourist destinations. Later, police shot and killed five terror suspects in Cambrils, Spain, in a separate incident.

    (Published Thursday, Aug. 17, 2017)