What are the payment collection methods for ransomware?

Expert centerCategory: RansomwareWhat are the payment collection methods for ransomware?
Stephy T L Staff asked 8 months ago
1 Answers
Renjisha Staff answered 8 months ago

Payment for illicit activities is a key way that the bad guys get busted. The cops follow the money electronically, or catch them at a money “drop spot” where they are vulnerable. Now, the payment is being collected through a digital currency called “Bitcoin (BTC)”. Bitcoins are a form of cryptocurrency, meaning they do not have a physical representation. Instead, they are stored in anonymous digital wallets. They can be transferred anywhere in the world via internet and can be paid from anywhere, to anywhere with near total anonymity. Bitcoin is a currency that is accepted by many legitimate businesses, however, apart from the benefits, they are the ideal form of payment for illicit activities. The price of bitcoins is constantly changing. The current price of 1BTC is $892.