US Govt. set up Task Force to curb Crypto ransomware attacks

The US government has reportedly formed a task force to combat crypto-related ransomware attacks.

Part of the plan to curb the activities of the hackers involves offering bounties of up to $10 million for useful information that will help apprehend cyber-criminals.

The task force will consist of members of the Treasury and State Departments who will monitor the flow of funds obtained from ransomware attacks and intercept it when required.

The team will also collaborate with their counterparts and other financial regulators to ensure crypto criminals do not find a sanctuary outside the US.

Whispers from the discussions held with Deputy National Security Adviser Anne Neuberger report that the task force will also touch on regulations that guide the crypto industry.

NEXT: PayPal raises Weekly Crypto purchase limit to $100,000

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