The India company refused to pay ransom in bitcoin, why?

The India company refused to pay ransom in bitcoin, why?

India is affected by the global network attack effect of third big countries. It is said that India has forty thousand national computer attacks. A network security company said, to monitor the affected computer 60% is for the Windows system of enterprise customers, the rest is for individual customers.

According to the India Economic Times reported that many of the affected companies in India is still from the extortion virus to come out of the shadows, but does not intend to pay the ransom bitcoin, because of concerns about the connection with encryption currency.

Reported that the India network security company CEO Manan Shah (MananShah) pointed out that “in the past three or four days, there have been fourteen customer contact with me, not a customer is willing to pay for bitcoin ransom. They think bitcoin payment is not legitimate.”

Although there are a lot of India in the past to prohibit the use of bitcoin political appeal, but for the moment, India neither admitted nor denied the legitimacy of encryption currency. The Central Bank of India in February this year issued a notice, reiterated in a statement on 2013, to remind residents of India or other digital currency bitcoin transactions must be at risk.

However, with the growing popularity of bitcoin, the digital currency is becoming more and more popular, forced the India government to take action in the last few months. In April, the Ministry of finance of India formed a committee to study and put forward the legal framework of digital currency. From this point of view, the government intends to standardize the management of this industry, also bitcoin in India is likely to gain legal status that.

At present, India bitcoin industry is the implementation of the autonomy system. Bitcoin users must comply with the “know your customer” (KYC) this policy and to submit written information and other details. Therefore, in India, from application to may need two days by bitcoin exchange to the end user to bitcoin wallet.

Bitcoin to delayed account, one reason the India company is also unable to pay the ransom. Extortion threats, if refused to pay the ransom, three days after the ransom doubles, seven days later, the data cannot be recovered.

What DDT partner in PA he zarati (ShreeParthasarathy) told the media that “the affected companies have three kinds of attitude. A small number of companies are taking a wait-and-see attitude, hope that their data can be restored. Several companies have paid a ransom, they are waiting for data to unlock. The enterprise risk prevention consciousness is to recover the data from the offline backup.”

Leave a Reply

Your email address will not be published. Required fields are marked *