With public sentiment boiling, along with policymakers’ willingness to pursue those trying to take control of critical infrastructure, the appetite to go after Bitcoin has resurfaced.
The problem is that Bitcoin is pseudonymous, but certainly not anonymous.
As the full, historical ledger is publicly available, analyzing traffic patterns involving a given address makes it possible to match a standout payment pattern to a particular Bitcoin address and chase down that rabbit hole to eventually go after the true owner.
Speaking of weaponry, the Fed recently increased the severity ranking of ransomware to that of terrorist activity, extending the reach, mandate and budget of governmental efforts to track down and eradicate it, even increasingly overseas.
Years ago other, more privacy-oriented cryptocurrencies, such as Monero, started to address Bitcoin’s transaction transparency, implementing things like ring-signatures and other technical defenses against traceability.
While the ire surrounding outsized payouts from ransomware seems poised to continue for some time, bad actors seem more likely to increasingly flee the Bitcoin platform for payouts.
Not that some instantaneous exodus amongst the digitally unscrupulous seems imminent, but expect ransomware gangs’ renewed focus on alternative forms of payment that are better at hiding their tracks.