Ransomware attacks using crypto on the rise due to unreported incidents

Crypto Crime 2020 report released by Chainalysis has revealed that most ransomware attacks using crypto go unreported. Chainalysis in the published document revealed that over $6 million was deposited into wallet addresses linked with ransomware and the figure is grossly below the real amount. An inquiry into the matter by ProPublica in December revealed that publicly traded firms are usually subject to ransomware attacks. Thereby, investors are very skeptical, and such firms end up reducing their share price. Ransomeware attacks affect the operation, cost money, and reveals cybersecurity vulnerabilities. Firms, therefore, prefer paying ransom instead of alerting authorities like the