Whole attack was a mask for something bigger!!!The purpose of WannaCry Ransomeware attack was not just to attack computer all over the world and to encrypt data until the user pay in Bitcoins.Rather the whole attack was a mask."It'stime sensitive, like a yo-yo", said Jeff Garzik, a Bitcoin developer for the payment processor BitPay.It's not mining or investors that are causing the radical highsand lows in the currency's value, it's the media, he said."Bitcoin's price tends to follow media cycles, not hardware or mining.The difficulty in mining is not the highest correlation in bitcoin value."—ByAnthony Volastro, CNBC Segment ProducerYou got that right!The attackers were roaring the price of Bitcoins.As the bitcoin prices continuously changes (just like stock market).The attackers got as many bitcoins as possible in there wallet and they just made a virus and spread it.Output: Virus spread all over the world.With the payment method ‘Bitcoins’ and bitcoins came into to the Media rapidly.Conclusion: Bitcoins price hits freshrecord high above $2,200!Bitcoin jumps $200 in single day and has nearly doubled in May on surging global demand.I might hold a unique position, but honestly I don’t think this ransomware affects Bitcoin’s future all too much.We’ve known that Bitcoin is the go-to choice of ransomware for some time.

Are you surprised by it?Because the government isn’t.We’ve known this for a long time.But why is that?You claim that “this incident clearly shows how cryptocurrencies are used by the user hiding in darknet” but this isn’t entirely true.Some may hide under the law with it, but that is far from Bitcoin’s only purpose.You then claim that the government will react to cryptocurrencies /now/.You say “now” like they haven’t before, which they have.The government has been (trying) to regulate Bitcoin and cryptocurrencies as much as possible.And if you’re a law abiding citizen, it’s very easy for you to abide by the law while using bitcoin.The future of Bitcoin after the WannaCry ransomware is hopefully pass Segwit, and, you know, have an increase in nodes and hash power.Business as usual.WannaCry is nothing special in regards to Bitcoin.Getting paid by Bitcoin means you are harder to trace.So if you’re getting paid by Bitcoin because of shady acts of extortion, you are harder to catch.In order for your victim to pay you, they must have Bitcoin.In order for them to convert their mainstream currency to Bitcoin, they have to go through an exchange.The demand for Bitcoin is going up generally and also due to the victims of the WannaCry cyber attack.Because this use of Bitcoin has been revealed to the world, in that it is a favored method by current and future extortion artists, many are dumping the format or moving to ban or illegalize it.This hurts its sentiments and its price.So while you have short term demand growing from people interested to pay off a ransom, you see long term trust depleting by people and institutions that would rather not align themselves with a payment format that attracts thieves.In the long run I don’t see the Bitcoin usage being eradicated but I do see startups emerging offering disconnected servers to house back up data.I also see moves by the pro-Bitcoin ecosystem to create a body that can prevent the misuse of their currency system and the tracking of misusers.SourceHow WannaCry Ransomware Attack Hurts Bitcoins

The recent WannaCry outbreak is still a mystery.litecoin water coolingWe know what (ransomware), and how (a Windows vulnerability on unsupported or unpatched systems); but we don't know who or why.passing bitcoin around the worldWe're not short of theories: Lazarus, North Korea, some other nation-state actor, Chinese or Russian actors -- but none of these has gained general acceptance.bitcoin sacar dineroThe basic problem is that elements of Wannacry just don't make sense.bitcoin heaterThe scale and rapidity of its spread, although not unprecedented, points to expertise and resources.litecoin calculator

This together with some code similarities has led to suggestions that it was a nation-state attack emanating from North Korea.bitcoin double spend problemBut inefficiencies in collecting the ransom is not likely from a group as experienced as Lazarus; and the absence of any visible political motive throws doubt on the idea that any nation-state actor was involved.bitcoin plus payoutThycotic's cyber security and digital forensics expert, Joseph Carson, has an alternative theory: the motive behind Wannacry was effectively insider trading following currency manipulation.bitcoin price wannacryBitcoin was the real target.bitcoin konto machenIf he is right, it explains the efficiency of the attack (the primary motive) and the inefficiency of the ransom collection (which was neither part of nor important to the plan).

Talking to SecurityWeek, Carson explained that one common theory on the value of Bitcoin is an application of Metcalfe's Law.Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2) (Wikipedia).Giovanni Santostasi, chief scientific officer at DeepWave and Fountain Health Technologies, has applied this to Bitcoin: "The exponential growth is driven by one factor only, not millions.The rate of adoption.In fact there is a strong correlation (R2 = 0.82) between number of users and price."This is Carson's starting point.If you want to manipulate Bitcoin value, he told SecurityWeek, you cause a sudden increase in the number of users.This is most easily measured by the number of Bitcoin wallets in existence.A global ransomware outbreak, demanding payment by Bitcoin, would certainly have such an effect: both direct victims and judicious organizations are likely to obtain wallets."WannaCry," he suggested, "was a sleight of hand, a deception.

The ransomware was merely a mechanism to get a large number of people to open a Bitcoin wallet -- and that by itself would drive up the value of Bitcoin."It could almost be described as a version of insider trading based on a sophisticated form of 'pump and dump': the criminals could invest in Bitcoin, pump its value through encouraging the growth of wallets, and then dump the Bitcoin to take their profits.This theory is supported by Bitcoin currency movement during May.On May 1, Bitcoin was reported reaching an all-time high of $1,379.28.The price grew steadily and consistently until May 11 when it reached $1,817 on the eve of Wannacry.On May 12, WannaCry Day, it fell back by 3.93% to $1,776.95.Did criminals slowly drive up the price by their own investment in Bitcoin, ceasing further activity as soon as Wannacry was released?Om May 13, Bitcoin fell another 3.28% to $1,735.03; and again on May 14 by 2.99% to $1,684.44.But it's what happened next that is interesting.On May 17, CryptoCompare reported, "Bitcoin is up 5.82% at $1,785.22."