Bitcoin Value Skyrockets
Bitcoin, the non-traceable currency used in many cybercrimes, has been inflated. As of December 27, 2016 the currency reached an all time high of $936. This means one bitcoin is almost $1,000! After reviewing the graph below, provided by Spiceworks, you will see the hike in value, and just how much it has changed within the last 30 days.
At the end of November one bitcoin was valued at $750. In less than a month, a 24.8% increase in value occurred, boosting the value of one bitcoin to $936. This impacts every single cybercrime victim who has any intentions to pay the demands made by cyber criminals.
To be clear, this does not mean every ransomware attack will result in roughly a $1,000 payment demand. However, it will increase the demands overall. In most cases, ransomware victims are paying the cyber criminals in bitcoin, per the hackers demands. With the inflated value of the bitcoin, victims will be paying more.
The increase in value of the bitcoin is not expected to decrease anytime soon. As of today, December 28th, the value has increased again. According to Investing.com, the bitcoin value is now $955.98.