US proposes global anti-ransomware coalition

White House principal deputy press secretary Karine Jean-Pierre has mooted the creation of a global anti-ransomware coalition as part of the Biden administration’s strategy to fight various threats to national security.

Jean-Pierre said that the US will focus on developing better cryptocurrency tracking tools, citing the fact that most ransomware attackers now demand bitcoin as payment.

Ransomware attacks have intensified over recent months with JBS, a meatpacker company, suffering a massive ransomware attack that disrupted its services.

Jean-Pierre said that US authorities were in touch with Russian government officials in assistance of identifying who the attackers are.

This event paired with others has prompted the Biden administration to seek a harder and quicker response to such threats.

To this end, the government intends to take concrete steps towards addressing the issue, including identify how ransomware is distributed and bringing together an international coalition of countries who are willing to pursue ransomware attackers and hold them accountable for their actions.

The US is also looking to expand its own experience in analyzing and identifying criminal transactions. Jean-Pierre did not provide specifics in how each of the steps will be achieved or what the timeline for its realization was.

However, the government is already working with the private sector and has extended a  Chainalysis contract to help the government develop a tracking software that can focus even on inherently anonymous currencies such as Monero and bring transactions to light.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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