Companies Stockpiling Bitcoin in Anticipation of Ransomware Attacks – NBCNews.com

One of Bitcoin enthusiast Mike Caldwell's coins in this photo illustration at his office in Sandy, Utah, from September 17, 2013. JIM URQUHART / Reuters file

So far, WannaCry ransoms have grossed a little more $80,000, Chainalysis reported. That's not a huge amount considering the malware's far reach. Also, most of the money was grossed via individual transactions, which means large companies likely didn't find paying the ransom necessary.

Nevertheless, many companies still feel compelled to keep Bitcoin on hand in case of future ransomware attacks.

"I've often heard expressed that intelligence agencies and law enforcement act on a reactive basis," said Dr. Simon Moores, Britain's former technology ambassador and chairman of the annual international e-Crime Congress. "Once it's into your system, there's not much they can do about it."

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Moores explained that companies have accepted this type of hacking as reality, according to Citrix's findings. Although he declined to name companies, he said numerous organizations had told him privately that they keep electronic cash on hand in case of attack.

At times, they don't have another option.

"It's all well and good to catch up to the actors and prosecute them, but that doesn't help you if you happen to be a financial institution or a business and data is mission critical," Moores told NBC News.

And it's become more and more necessary as the rate of these malware attacks continues to increase.

According to Beazley Group, the number of ransomware assaults quadrupled in 2016. It projects that attacks will double in 2017 already noting a 35 percent uptick after the first financial quarter. That increase didn't account for the most recent cyberattack.

The insurance group, which specializes in cyber risk, has helped manage more than 5,000 hacking incidents since 2009. It said ransomware, "from the bad guy point of view," is low risk and high reward. It's not particularly sophisticated, but its massive volume will eventually lead to a payout.

"It really is knocking on a bunch of doors, if you will," Wice said. "If someone answers, you have access to encrypt their data. If they don't know any better and they're unsophisticated and don't know how to stop ransomware to stop hitting them, then they can be an easy target."

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Companies Stockpiling Bitcoin in Anticipation of Ransomware Attacks - NBCNews.com

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