U.S. presidential administration hopes that tracking crypto payments would help it arrest hackers that have been conducting ransomware attacks

According to Bloomberg, the administration of current U.S. president Joe Biden plans to start cracking down on the utilization of crypto coins in ransomware attacks by tracing payments to the hackers who are responsible for them.

They intend to offer bounties worth $10 million for information that would lead law enforcement teams to the hackers who orchestrated and pulled off those cyberattacks.

In the article, Bloomberg referred to information obtained from anonymous sources “familiar with the matter.”

The Biden administration is set to crack down on the use of crypto in ransomware attacks through more rigorous tracing of proceeds paid to hackers, sources say https://t.co/RQPaurdB7M— Bloomberg Crypto (@crypto) July 15, 2021

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