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22 June 2021

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

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


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United States lawmakers have deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks that befell U.S.

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.

There were some good things coming out of distributed ledger technology, but we are now seeing some of the dark underbelly [...] and that's why I'm focusing more on transparency,” he said.

“The truth is there are ways that we can break through some of these systems, but [...] if there's not some transparency of that payment, the bad guys will simply find another way to hide it,” said Warner.

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