Posted 11 months ago | by Catoshi Nakamoto

The U.S. Biden administration has launched an anti-ransomware task force geared toward dealing with blackmail by hackers against corporations, proposing a bounty of $10 million dollars if the information given to investigators leads to the capture of culprits responsible. The new task force will focus on combating cyberattacks and tracing crypto that is paid as a ransom to cybercriminals.

AdobeStock 169435664 Biden Administration Forms Anti-Ransomware Task Force Contemplates $10 Million Bounty For Catching Hackers

The White House announced that it will launch the dedicated ransomware task force and increase its efforts to trace cryptocurrency transactions involved in ransomware attacks,

Sources told Bloomberg today, that the U.S. was “doubling down” against ransomware hackers.

Per the report, the topic was discussed during a virtual briefing with members of Congress. As part of the Biden administration’s plans, the new organization will analyze and trace crypto transfers from any affected companies and institutions that plan to be or have been sent to perpetrators of digital crime.

According to the Wall Street Journal, Deputy national security adviser Anne Neuberger also declared that in addition to the task force, the administration is also working on a new strategy that includes efforts to disrupt ransomware attacks in general, as well as reduce the use of Bitcoin and other cryptocurrencies for the attacks. She also commented that the U.S. would work with other nations to extradite cybercriminals and make sure they aren’t being harbored.

In addition to work being done to prevent the cybercrime of ransomware, the State Department suggested launching a new bounty program that will offer rewards of up to $10 million for information that would result in the identification and arrest of ransomware hackers, Politico reported. The State Dept’s proposed bounty would be directed at hackers involved in attacks on critical infrastructure, the administration official stated.

Bitboy Crypto previously reported that the White House was in the process of finalizing its strategy for handling ransomware pertaining to crypto digital assets, which involves working with countries that are a part of the Five Eyes surveillance group, consisting of — Australia, Canada, New Zealand, the United Kingdom, and the United States.

The U.S. wants to use this partnership alliance to make foreign cryptocurrency exchanges report suspicious transactions to governments according to Megan Stifel, a co-chair of the Ransomware Task Force, who serves as the global policy officer for the nonprofit organization Global Cyber Alliance.

For months, after alleged ransomware attacks, on the colonial pipeline and JBS meat factory and now Kaysea, the National Security Council has been studying how to stop the current attacks and prevent future critical infrastructure damage. The NSC discussions have focused on hardening private companies’ cybersecurity to stop ransomware intrusions.

U.S. leadership including the House, Senate, and Congress hosted four total meetings last month on the topic of cryptocurrency and digital assets with legislators focused on ransomware at least at one of those hearings as Bitboy Crypto previously reported.

Ironically the governments’ best way to counter disruption to supply chains like Kaseya, and JBS a meat factory, is to utilize the blockchain for supply chain management solutions. May this author suggests using VeChain, or DOCK, blockchain is a much more secure system than your centralized databases. Especially with its trustless nature, it can easily track products on a ledger that is immutable, which can’t be changed without consensus from enough nodes on the network. In order to attack the business in this case a hacker would have to hack all blockchain nodes on the network, a seemingly impossible task if the nodes are spread out and truly decentralized.

Bitcoin is currently trading at {FIAT: $31,547.75] DOWN -3.8% in the last 24 hours according to Coingecko at the time of this report.

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Biden Administration Forms Anti-Ransomware Task Force Contemplates $10 Million Bounty For Catching HackersActivist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.