Cybersecurity
U.S. Fights Ransomware With Crypto Tracing, $10 Million Bounties
- Strategy envisions more rigorous pursuit of hackers’ proceeds
- Some lawmakers not impressed with Biden approach so far
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The Biden administration intends to crack down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of proceeds paid to hackers behind the disabling of companies, government agencies and organizations, according to people familiar with the matter.
The U.S. strategy will also involve bounties of as much as $10 million for information that leads authorities to cyberattackers, a senior administration official said.