In light of the biggest ransomware attack of all time (by Russia-based REvil Group), I’ve spent some time thinking about cybersecurity and how it relates to our ever-growing use of cryptocurrencies. The hackers involved with the attack this past weekend demanded $70 million in Bitcoin in exchange for a universal decryptor that will return users access. This is pretty abnormal, typically hackers will demand payments in the form of other more secure cryptocurrencies. This begs the question, how secure is Bitcoin?
Bitcoin has proven that technology can be monitored by a motivated government if there’s clear evidence of an infraction. With more regulations put in place, will this enhance the security of Bitcoin?