According to, the Biden administration is ready to take steps, including penalties, to make it more difficult for hackers who use digital money to benefit from ransomware assaults. According to the article, the US Treasury Department aims to implement penalties as soon as next week, citing persons familiar with the situation.
According to, the agency will also provide new instructions on the dangers of aiding ransomware payments, including fines and other penalties. New anti-money laundering and terror funding legislation are planned later this year, with the goal of limiting the use of cryptocurrency for ransomware attacks and other illegal activity, according to the article.
Ransomware assaults are on the upswing, and attacks on the Colonial Pipeline, JBS Food, and Kaseya have lately made headlines. This spyware, which is constantly changing, might encrypt your data and prevent you from accessing them. Previous ransomware operations took data or gained access to it and held it, hostage, demanding a fee and threatening to leak or sell it.
Recent attacks, on the other hand, have adopted a new tactic, focusing on individual firms and encrypting data, causing serious service disruption and, in some cases, societal disruption. Malicious actors demand a ransom in exchange for the decryption and restoration of service. The growing world of cryptocurrencies has caused cybercriminals to change their strategy.
