Sign In
Not register? Register Now!
Essay Available:
Pages:
5 pages/≈1375 words
Sources:
3 Sources
Level:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 21.6
Topic:

Role of Cryptocurrencies in the Growth of Cyber-Extortion (Essay Sample)

Instructions:

In Assignment 2, you are required write a paper on the following topic:

The roles of cryptocurrencies such as bitcoin in the growth of cyber-extortion involving ransomware.

Your paper is expected to cover the following:

Recent growth in ransomware and cyber-extortion with some examples
Why cyber-extortionists demand that ransom be paid by cryptocurrencies such as bitcoin
What types of victims are likely to comply with cyber-extortionists demand to pay ransom with bitcoin?
Assume that you are the CEO of a bank. All of your bank’s files have been encrypted by cybercriminals. You received an email from the cybercriminals that they will decrypt the files only if you pay $30,000 by bitcoins. How would you respond? Why

Your analysis is expected to be about 1,400 words in length excluding the references. Please cite all the sources of your information.

source..
Content:


Role of Cryptocurrencies in the Growth of Cyber-Extortion
Student’s Name
Institutional Affiliation
Role of Cryptocurrencies in the Growth of Cyber-Extortion
Introduction
Whenever hackers manage to install malicious software on the servers of organizations and other institutions worldwide, they demand ransom, threatening to decode and share the information if the owners fail to meet their demands. Sometimes the companies hire security researchers who realize a fix that enables the owners to decrypt their computers without submitting to the demands by the hackers. However, a majority of organizations and individuals are forced to pay the ransom to free up their data. According to the report by the FBI in 2016, a total of $1 billion was paid as ransom to extortionists (Kshetri, 2017). Before the existence of cryptocurrencies, the money was transferred using services like Western Union. Such means of transfer were easily traced. However, the introduction of cryptocurrencies like Bitcoin has created an anonymity and a quick process of transfer.

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Assignment 1. The Primary Focus of Marketing-Level Strategies
    Description: Marketing-level strategies are the long-standing, progressive methods of planning whose major objective is to achieve a sustainable competitive advantage (Tollin & Christensen, 2017). ...
    4 pages/≈1100 words | 2 Sources | APA | Management | Essay |
  • EEOC Adverse Impact Ratio Analysis in the hiring, promotion and separation process using Gen. . .
    Description: Equal Employment Opportunity Commission (EEOC) is a U. S agency bestowed with the responsibility of enforcing federal regulations that govern and protects American job seekers or employees against discrimination and operation in the workplace....
    7 pages/≈1925 words | 5 Sources | APA | Management | Essay |
  • Discussion post. Do we pay CEO's too much? Management Essay
    Description: I believe that while CEO’s are paid so much, the salary that they are getting are still justifiable given their contribution to the company. There are some debates that says that CEOs’ salaries should be lessened and those who do manual labors should be increased...
    1 page/≈275 words | No Sources | APA | Management | Essay |
HIRE A WRITER FROM $11.95 / PAGE
ORDER WITH 15% DISCOUNT!