Biden Administration Reveals Push To Expand Crypto Tracking and Analysis, Combat Ransomware

The US government is beefing up its crypto tracking and analysis capabilities to fight ransomware attacks that utilize digital assets to extort victims.

In a new press briefing, Deputy Press Secretary Karine Jean-Pierre says the Biden administration is aware of a ransomware attack that targeted JBS, the world’s largest meat producer, which has plants in the US, Canada and Australia. 

Jean-Pierre says that combating ransomware is a White House priority, noting that in its efforts to protect against such attacks, the Biden administration will bulk up its tool kit to track crypto transactions that are connected to hacks.

“President Biden has already launched a rapid strategic review to address the increased threat of ransomware to include four lines of effort. One, distribution of ransomware infrastructure and actors working closely with the private sector. Two, building an international coalition to hold countries who harbor ransom actors accountable… [as well as] expanding cryptocurrency analysis to find and pursue criminal transaction; and reviewing the USG’s ransomware policies.”

The FBI links the JBS hack to a Russia-based group known as REvil or Sodinokibi, which is also implicated in previous malware attacks against computer manufacturer Acer, Apple supplier Quanta Computer and currency exchange Travelex.

“The White House is engaging directly with the Russian government on this matter and delivering the message that responsible states do not harbor ransomware criminals.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

ADVERTISEMENT

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/uniknisapurnama

Source: https://dailyhodl.com/2021/06/04/biden-administration-reveals-push-to-expand-crypto-tracking-and-analysis-combat-ransomware/