Crypto’s dark underbelly exposed in ransomware attack, U.S. senator says

Crypto’s dark underbelly exposed in ransomware attack, U.S. senator says


United States lawmakers have deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks that befell U.S. institutions in the past month, and opinions appear to be mixed.

The largest fuel pipeline in America was brought to a halt in early May when hackers infected the computer networks of Colonial Pipeline. Food packing company JBS was hit with a similar attack. Colonial Pipeline has since paid a reported $4.4 million in ransom.

Democratic Senator Mark Warner addressed the matter during NBC News’ Meet the Press on June 6, where it was put to him by reporter Chuck Todd that banning cryptocurrencies entirely could curb the growing trend where cyber-attackers demand ransom in Bitcoin (BTC) and other cryptocurrencies.

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Warner disagreed that crypto should be banned entirely, adding that good things had come out of distributed ledger technology, but that its dark underbelly was now being exposed.

“I’ve got a lot of questions about crypto. There were some good things coming

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