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Low value won't change its criminal utility. A criminal looking for a $50k ransomware payment doesn't care if the market cap is $50M or $50B. Outlawing it will
by fighterpilot 5y ago
Low value won't change its criminal utility. A criminal looking for a $50k ransomware payment doesn't care if the market cap is $50M or $50B.
Outlawing it will make a difference though since it'll make it less likely that victims will pay, meaning the endeavor has a lower success rate.
- verdverm 5y agoIndeed, and since attackers are now on notice from the US Govt, they might reconsider these types of attacks
- wetjen 5y agoMaybe. Let’s say you can, for example, purchase a cruise missile strike in crypto. Once a few cruise missiles land in LA I imagine the world governments will take a more aggressive stance on crypto. Drone strikes and military intervention will follow.
- thehappypm 5y agoThis misses a big point though. If Corporation A needs to pay $1M in crypto to Hacker B, Corporation A needs to acquire $1M in crypto (whether that's 20 BTC or 20,000). If it's illegal for them to acquire the crypto they can't make the payment. The bottom falls out.
- fighterpilot 5y agoThat's what I said in my second paragraph. The illegality itself is what will work. The market value is irrelevant
- Workaccount2 5y agoAren't they already "illegally" making the payments via some 3rd party loophole?