The Biden administration reportedly plans to place sanctions on financial exchanges that facilitate ransomware payments. Treasury officials said the sanctions will be the most significant deterrent to date against ransomware operators. The majority of ransomware groups request payment in cryptocurrency, which is easily transferrable and hard to track. These sanctions are in line with the administration’s ransomware strategy announced in July. The White House aims to make U.S. institutions more resilient against attacks and to improve international cooperation in the fight against ransomware. This strategy also includes holding countries where threat actors operate more accountable, mainly Russia.
By Akshay Rohatgi and Randy Pargman About this Student Research Project Binary Defense’s mission is