How Much Has Bitcoin Been Extorted?6

Bitcoin, the world's largest cryptocurrency, has been targeted by extortionists for years. These criminals demand payment in Bitcoin in exchange for not releasing sensitive information, damaging data, or carrying out other malicious acts. The amount of Bitcoin extorted has varied over time, but it is estimated that billions of dollars have been stolen in this way.

One of the most high-profile Bitcoin extortion cases occurred in 2017, when the WannaCry ransomware attack infected hundreds of thousands of computers worldwide. The attackers demanded payment of $300 in Bitcoin to decrypt the locked files. It is estimated that the attackers collected over $4 million in Bitcoin from this attack.

Another major Bitcoin extortion case occurred in 2019, when the GandCrab ransomware gang targeted businesses and individuals. The attackers demanded payment of $2,400 in Bitcoin to decrypt the locked files. It is estimated that the gang collected over $2 billion in Bitcoin from this attack.

Bitcoin extortion is a serious problem, and it is only getting worse. As the value of Bitcoin increases, so too does the incentive for criminals to target it. Businesses and individuals need to be aware of the risks of Bitcoin extortion and take steps to protect themselves.

Here are some tips to protect yourself from Bitcoin extortion:
Be careful about what information you share online.
Use strong passwords and security measures to protect your accounts.
Back up your data regularly.
Install antivirus and anti-malware software.
Be aware of the signs of a Bitcoin extortion scam.

If you are ever the victim of a Bitcoin extortion attack, do not pay the ransom. Instead, report the attack to the authorities and seek professional help.

Bitcoin extortion is a serious problem, but it can be prevented. By taking the necessary precautions, you can protect yourself from this type of crime.

2024-11-13

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