Why do hackers use Bitcoin?

You might have heard about bitcoin because of the WannaCry ransomware. Victims would load their computers to find a screen telling them their files have been encrypted and would only be released if they sent the hackers a certain amount of money in bitcoin. Hackers like to use bitcoin because of its anonymity.

What is bitcoin and how does it work?

What is Bitcoin? Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol, cryptography, and a mechanism to achieve global consensus on the state of a periodically updated public transaction ledger called a 'blockchain.'

Who is the'mastermind' behind the bitcoin hack?

Bitcoin payments and IP addresses led investigators to two of the alleged perpetrators in just over two weeks. The alleged “mastermind” behind the sweeping hack was a 17 year old from Tampa, Florida. Photograph: David Paul Morris/Bloomberg/Getty Images On July 15, a Discord user with the handle Kirk#5270 made an enticing proposition.

Is bitcoin a scam?

Launched 11 years ago, bitcoin is a digital currency that operates independently of third-party oversight from banks or governments. It allows two people anywhere in the world to exchange value across the internet in minutes. Although it hasn’t found success as a mainstream, transactional currency, it is increasingly used in scams.