US travel firm $4.5M ransom negotiation open chat

Re:US travel firm $4.5M ransom negotiation open chat by yyyk on Monday August 03, 2020 @02:03AM (#24034636)

As far as I know, nearly everyone uses Western Union (Transferwise etc. etc.) for that. Bitcoin is too costly* and complicated for most people.

* Two set of fees to exchange crypto to fiat + transfer fee compared to one set of fiat currency exchange + transfer fee.

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Re:US travel firm $4.5M ransom negotiation open chat by ehmish on Monday August 03, 2020 @02:14AM (#24034674)

I recall these services used to be pretty crap, bitcoin added a bit of much needed competition

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Re:US travel firm $4.5M ransom negotiation open chat by sonicggg on Monday August 03, 2020 @11:40AM (#24039110)

But you're making an assumption here that both the sender and recipient will be using fiat currency in the end, and that crypto is only being used as means to make the transfer. This is not necessarily true.

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Re:US travel firm $4.5M ransom negotiation open chat by yyyk on Monday August 03, 2020 @06:02PM (#24043988)

IMHO, it's a pretty reasonable assumption, as very few businesses agree to be paid in crypto directly.

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Re:US travel firm $4.5M ransom negotiation open chat by icelancer on Monday August 03, 2020 @04:03AM (#24035194)

BTC is not the only cryptocurrency used there. I've sent LTC and XRP most often, but XMR lately. tx fees need not be large (also Lightning Network exists).

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