Bitcoin rate fluctuations due to cyberattacks

Cyberattacks have big effect on Bitcoin's exchange rate 
28 June 2017   885

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

There is a big drawdown at the crypto-exchange markets since the beginning of the week. Some currencies lost about 20%, even Bitcoin's rate declined. At the same time, new ransomware called "Petya" copies the behavior of WannCry. Virus locks PCs and demands 300$ in Bitcoin for unlock. 

WannaCry attack in May and it's Bitcoin request spread panic all over the world. Also, it showed that a lot of institutes and big companies use outdated software, for example, British National Health Service used unsupported Windows XP.

Victims want to get their files back. New users are forced to create wallets. The number of injections in Bitcoin will increase. More money, more willing to buy - above the price. More active users - network utility increases. It is the same as in May, when in a short period of time Bitcoin not only regained its positions, but also overcame the highs.

As mentioned above, it is drawdown now. So buying a cryptocurrency is profitable. Bitcoin now is good for long-term investments. But it will also affect short-term deposits. Some experts talk that Petya, as WannCry, is used for speculations.

wannacry map spreadWannaCry Spread Map

Large amount of WannaCry attacks drew enough fiat money to Bitcoin, so, this theory has a right to exist. Hackers can use it to earn money on exchange rate fluctuations.


On these charts, you can see the Bitcoin's exchange rate before and during the May's attack. 

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   90

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.