A group of 40 countries, led by the United States, has made a commitment to never pay ransom to cybercriminals. This initiative, called the International Counter Ransomware Initiative, aims to eliminate the funding source for hackers. Ransomware attacks, where hackers encrypt an organization's systems and demand payment to unlock them, have been on the rise globally, with the United States being the most affected. The initiative plans to disrupt the funding mechanisms of cybercriminals through improved information sharing and the use of artificial intelligence (AI) and blockchain analysis. The alliance will share a "black list" of ransom payment accounts and utilize AI to track and trace illicit funds associated with ransomware attacks. Cryptocurrencies, particularly Monero (XMR) and Bitcoin (BTC), are often preferred by ransomware attackers for payments. Several high-profile companies have fallen victim to these attacks and are still struggling to recover.
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