Bitcoin, a virtual currency generated through peer-to-peer technology and not controlled by any central authority, is used not only for paying for goods and services, but also as a means to collect ransomware. The reason why ransomware creators use the virtual currency is the anonymity that Bitcoin provides, i.e., one can conduct Bitcoin transactions without the need to use his/her real name. In this regard, an FBI report on ransomware issued in 2015 points out: “Criminals prefer Bitcoin because it’s easy to use, fast, publicly available, decentralized and provides a sense of heightened security/anonymity.”
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