Reddit has given rise to several pop-culture rumors recently. One of the most quoted ones in the crypto community is that the CIA invented and controls Bitcoin. A recent media brief by the Director of the CIA reveals that the agency is currently involved in several cryptocurrency projects.
CIA director William Burns was recently attending the Wall Street Journal Summitt. During a series of questioning, Burns revealed that the agency was interested in cryptocurrency and blockchain technology. However, he also clarified that the CIA is not taking responsibility for inventing Bitcoin.
Biden Administration has Made Ransomware Research a Priority
Recently, several massive ransomware attacks were launched on the US oil pipeline, a major meat processing plant, and an IT infrastructure development organization. These attacks awaken the general public and the government from the threat of ransomware attacks. Ransomware is software and programs that can shut down or reroute the management of a project.
The hackers who launched these attacks demanded compensation in the form of Bitcoin and Monero. Director Burns added that the agency was working on providing the US government officials to collect data about second and third-level cyber-attacks. Burns also revealed that after the fashion of his five predecessors, the intelligence agency is running different programs to keep track of cryptocurrencies.
Both Coinbase and Square Inc. published a report chartered by the acting director of the CIA during the Obama administration, Michael Morell. Morell commented in the report that cryptocurrencies are a boon for collecting surveillance data and offer a great utility of tracking down the financial activities of threat actors.
During the recent WSJ Summitt, Director Burns did not shed light on the aim of the CIA. It is not yet clear if the central intelligence agency is only conducting research on disruptive technology or has plans to sabotage. He, however, revealed that the best way to track down the cyber hack attackers is to find their preferred financial channels.