Biden Needs to Be Wary of Crypto Grifters

A few weeks ago, a ransomware cyber attack breached Colonial Pipeline’s systems, forcing the company, which transports gasoline to much of the Southeast, to halt its operations. Shortly after this episode, hackers targeted JBS, the world’s largest meat producer, temporarily shutting down all of its U.S. beef plants. In both cases, the affected parties paid the hackers with the popular cryptocurrency Bitcoin. (The Justice Department was able to retrieve a significant portion of the Colonial ransom.) These attacks, coupled with Bitcoin’s carbon emission–heavy mining process, have led to calls to ban the cryptocurrency. Read Full Article »