The value of Bitcoin has changed so much in recent times that even cybercriminals are no longer interested in asking for payments in this virtual currency that is currently not going through its best moments.
Bitcoin has collapsed since the end of December, and it looks like things will not get any better in the coming weeks. The currency has lost almost 50% of its value in just 3 weeks and many people who invested in the currency with its rise in mid-December have lost almost all of their investment.
Bitcoin is a currency that has little or no current use unless you try to convert it into real money, which means huge commission expenses. Large e-commerce companies do not accept Bitcoin for their payments and others like Valve have chosen to turn away from it after giving it a chance. Now cybercriminals are beginning to understand that asking for ransoms in Bitcoin is not recommended at all because of its low conversion and high volatility.
The security firm Proofpoint has pointed out in its latest security threat report for the last quarter of 2017 that the latest ransomware is no longer just asking for rescues in Bitcoin, but in local currency. Ransomware hijacks the user's computer by demanding a ransomware rescue in the form of an economic amount that was recently done in Bitcoin, but now it is not the first choice. The firm's latest data shows that Bitcoin's lawsuits have declined by 73% in recent months, and this is due to several causes.
The main reason is that Bitcoin is worth whatever it's worth, wherever the user is, something that doesn't happen with local currencies. This makes it more difficult for cybercriminals to adapt their economic demands to different cultures, resulting in less conversion. Another reason is that it is easier for the user to pay a ransom with his coin than with Bitcoin. In this way Bitcoin payments for ransomware seem to have the months counted.