Sunday, July 26, 2015

For Ransom, Bitcoin Replaces the Bag of Bills - The New York Times

Sign of the times, as is, tangentially, Winklevoss twins get closer to launching their bitcoin exchange (Engadget)
"In the old days, criminals liked their ransom payments in briefcases full of unmarked bills.

These days, there’s a new preferred method for hostage takers: the virtual currency Bitcoin.

In a modern day version of a mob shakedown, hackers around the world have seized files on millions of computers, taken down public websites and even, in a few cases, threatened physical harm. The victims — who have ranged from ordinary computer users to financial firms and police departments — are told that their only way out is through a Bitcoin payment that is sometimes more than $20,000."
For Ransom, Bitcoin Replaces the Bag of Bills - The New York Times
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