London — Behind the rise of ransomware lies the rise of bitcoin, the virtual currency of choice for hacker blackmailers who steal huge amounts of sensitive data. This doesn’t mean bitcoin is inherently to blame, but it does suggest that business has a bitcoin problem. Buying the currency has become a form of short-term protection, however dicey, against attacks. The logic is twisted but tempting. Hoarding bitcoin to pay off hackers may seem a better option for companies that either don’t or can’t make the heavy investments needed to see off the attacks in the first place. Paying ransoms certainly isn’t considered best practice in IT security circles, and that’s putting aside the principles of supporting criminals. But if you fall prey to a ransomware attack, there aren’t many options, especially if you have no data backup. One Los Angeles hospital reportedly paid about $17,000 to hackers to restore its computer systems last year. Hopefully, the global outrage over WannaCry, which hi...
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