Joe Biden intends to crack down on cryptocurrency hackers

US President Joe Biden has ordered measures to track cryptocurrency transactions of hackers in light of the recent wave of ransomware attacks.

«President Biden has already launched an operational headquarters to respond to the growing ransomware threat, including expanding cryptocurrency analysis capabilities to identify and prosecute criminal transactions,» the administration said in a statement. It is also proposed to hold accountable the countries from which the attackers operate.

The increased activity of ransomware has recently reignited discussions about the role of cryptocurrencies in illegal activities. Most often, ransoms are collected in BTC and other digital currencies.

According to Chainalysis, an analytical company, such attacks have become more profitable for their organizers in recent months. The company estimates the losses from their actions for the current year at least $ 81 million.

In 2020, the value reached a record $ 406 million. «The real figures are likely to be much higher,» Chainalysis noted. «Analysts are constantly finding new addresses of attackers, and most companies prefer not to share what happened to them because of reputational risks.