Many of us foresaw this (and much worse) when we first heard about Bitcoin in 2009-2011. Yes, Bitcoin has its anonymity issues, but cryptocurrencies in general is what typically enables this kind of crime.
Caesars Entertainment Inc. paid tens of millions of dollars to hackers who broke into the company’s systems in recent weeks and threatened to release the company’s data, according to two people familiar with the matter.
Hacking gangs typically ask to be paid in cryptocurrency if they demand a ransom.
I don't want to live in a world with 100% anonymous and untraceable payments.
> I don't want to live in a world with 100% anonymous and untraceable payments.
Cash is equally as capable of this, though. The hackers in this situation could demand cash and practically nothing would change about the technical aspects of their attack.
They would have to travel from e.g. Russia to Las Vegas to pick up the cash though. Or, I suppose, demand delivery of cash to Russia, or some other place. Whichever way, it's a lot easier for law enforcement. Suddenly a particular country is responsible.
Nah. Maybe $1000 bucks here or there, but you're not moving 8.1 million in paper money easily. And that money has to be laundered. Plus bills are traceable by number, and will often have markers on them. And they have to move, by hand, truck, package, etc., which means they can be found, often with little technical skill -- rando customs guy decides to open a box using the cutting edge tech of a letter opener.
BTC makes dealing with all of that a (potentially automated) bash one-liner.
Example:
https://www.bloomberg.com/news/articles/2023-09-13/caesars-e...
https://archive.ph/8BCDb
Caesars Entertainment Inc. paid tens of millions of dollars to hackers who broke into the company’s systems in recent weeks and threatened to release the company’s data, according to two people familiar with the matter.
Hacking gangs typically ask to be paid in cryptocurrency if they demand a ransom.
I don't want to live in a world with 100% anonymous and untraceable payments.