- July 4, 2021
- Posted by: Stratford Team
- Category: Business
Michael Saylor and Defiance ETF CIO Sylvia Jablonski discuss the crypto space on ‘Making Money with Charles Payne’
The rapid rise in the price of Bitcoin is a driving force behind a rise in cybercrime, according to new research.
As the price of Bitcoin surged almost 400% between October 2020 and May 2021, the number of cyberattacks rose 192%, according to Barracuda Networks, which offers products and services that protect against malicious software attacks.
Cryptocurrency has long been a favorite for cybercriminals. And Bitcoin historically is the go-to currency.
Colonial Pipeline, which operates a critical pipeline for refined oil products, paid ransomware extortionists roughly 75 Bitcoin, or about $4.4 million at the time of the transaction, to recover stolen data – though the majority of that ransom was later recovered by the Justice Department.
The rapid rise in the price of Bitcoin is a driving force behind a rise in cybercrime, according…
