Though not common, cyberattacks have had crippling effects on various businesses around the world

all be targeted over the years. Recently, hackers have started using ransomware that encrypts users' computers until the victim pays a ransom to unlock their systems. Hackers generally require payment in Bitcoin, due to its pseudo-anonymous nature.

A ransomware called Wannacry was probably the most damaging ransomware used this year. Wannacry has targeted a number of government operations and businesses around the world. Some have even theorized that Wannacry was destined to discredit Bitcoin, by associating money with criminal acts. The biggest target was the UK National Health Service, which was hit by several ransomware hacks earlier this year.

With cyber criminals bold enough to attack government institutions, it is not surprising to hear that big companies are preparing attacks. American companies have been buying Bitcoin for a while, so they can quickly pay if they are hit by a ransomware attack.

Stockpiling Bitcoin

This could be called insurance. According to Paul Taylor, KPMG's Cyber ​​Security Officer, some companies are planning the worst by buying Bitcoin:

"Companies are definitely stocking Bitcoin to be ready to pay ransoms."

Although the move is understandable given the havok that a cyberattack may have, McAfee chief scientist, Raj Samani, believes that it is about A trap situation:

organizations have confirmed publicly because it says, "We are ready to pay criminals in the event that we are affected by ransomware. However, it is certainly a practice we know [of].

Value of Bitcoin a Factor

It's not hard to understand why hackers are eager to receive ransom payments in Bitcoin.Not only is the motto pseudo-anonymous, but she benefited from a massive bull this year Driven by the launch of the Bitcoin Futures on the CBOE and CME Chicago Stock Exchanges, the Bitcoin price reaches $ 20,000 this week

Companies like Telefonica, the Spanish telecommunications giant, paid more than $ 600,000 in May