Seeking Alpha
2021-06-04 18:41:33

Deputy Attorney General: U.S. needs Bitcoin exchanges' help to fight ransomware

U.S. Deputy Attorney General Lisa Monaco called for improved cooperation, especially from cryptocurrency exchanges, to help fight ransomware attacks. At the same time, she stressed the need for increased corporate transparency related to the issue.In an interview with CNBC, Monaco called for a whole-of-government approach to the problem. This would include centralized reporting and national, even global, communication on the issue.Regarding Russia, which is widely considered a haven for ransomware gangs, Monaco refused to directly tie the attackers to the Russian government, saying she did not want to get ahead of any open investigations.However, she noted that the criminals involved in recent high-profile attacks "have ties to Russia." She stressed that no country should be harboring ransomware attackers.Monaco said that authorities needed help from cryptocurrency exchanges to "follow that money." This comes as cryptocurrencies, like Bitcoin (BTC-USD), have become the payment of choice for ransomware criminals.The deputy AG also asked

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