Bitcoin’s Fluctuating Values Pose a Threat to Security
It was August this year when ransomware “WannaCry” devastated and robbed businesses by demanding ransoms to restore files that they had compromised. Businesses were helpless and followed the instructions placed on their screen: pay or lose their collateral files. They were asked to pay in cryptocurrency or digital currency known as “Bitcoin” that has been used as a means of transaction or monetary value.
The valuation of Bitcoin
On November 29, 2017, the Bitcoin’s value reached an all-time high of $11, 000 yet it dropped the next day to $9,021.85. If Bitcoin would be continuously used as a means of currency, it would disrupt the market. As of this writing, it has now reached $12,798.78, a big leap from its less than $1,000 value last year.
Cultivating the Hacking Business
The increasing valuation of Bitcoin signifies and imposes a higher threat of being susceptible to hacking attacks. As the Bitcoins value increase, the more the hackers find it an opportune time to level up their ransomwares to gain money from this situation. They will extort on that value so that they can threaten businesses to pay for ransoms, once they have infiltrated their system.
If Bitcoin is continuously used as a means of transaction, it may threaten to disturb the financial climate due to its instability, as advised by one of the Federal Reserve governors.
Advanced Threat Protection is your 2-dollar assurance for the safety of your files compared to the risk of paying not less than $10,000.00 worth of ransom, and the risk of losing all your files that are pertinent to your business. The up-down valuation of Bitcoin will no longer be a problem when you have ensured your files’ security.