City banks plan to hoard bitcoins to help them pay cyber ransoms
by Jamie Doward from Technology | The Guardian on (#1YZXX)
Experts say blue chip companies have decided it's cheaper to deal with extortionists than risk damaging attacks
Several of London's largest banks are looking to stockpile bitcoins in order to pay off cyber criminals who threaten to bring down their critical IT systems.
The virtual currency, which is highly prized by criminal networks because it cannot be traced, is being acquired by blue chip companies in order to pay ransoms, according to a leading IT expert.
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