Cut Off The Cash: Cryptocurrency and Ransomware Payments

February 25, 2021 | 2:00 pm ET / 11:00 am PT

Ransomware actors consistently demand ransom payments in cryptocurrencies, obscuring the ransom payment process and moving it to the digital domain. But how reliant is the success of ransomware on the use of cryptocurrency, and how anonymous are these coins? IST hosted a conversation on February 25, 2021 to assess the relationship between cryptocurrency and ransomware payments.

Ransomware is a cybercrime unique in its motivations; threat actors overwhelmingly use it as a tool for financial gain. These actors consistently demand ransom payments in cryptocurrencies, obscuring the ransom payment process and moving it to the digital domain. But how reliant is the success of ransomware on the use of cryptocurrency, and how anonymous are these coins? Our panel of experts will discuss this interaction, analyze elements of this process that help or hinder tracking ransomware payments, and identify possible avenues for intervention.

We are pleased to welcome:

Pamela Clegg, CipherTrace

John Kothanek, Coinbase

Don Spies, Chainalysis

SSA Joel Decapua, Federal Bureau of Investigation (FBI)

Moderated by Neil Jenkins, Cyber Threat Alliance

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