It’s been about three months since the WannaCry ransomware attack, and those behind the attacks have finally cashed out.
This ransomware attack crippled computer systems, encrypting files and charging the owners anywhere from $300 to $600 to get the “keys” to unlock their files. The attack prevented a U.K. emergency room from accepting patients, shut down a Spanish telecommunications company and more.
The money, all told about $140,000, has been sitting in three separate bitcoin wallets for 12 weeks. Naturally, those wallets have been closely watched, and despite the fact that law enforcement is watching, those funds began to move out of the wallets.
A series of withdrawals over a period of less than an hour and all wallets were emptied. The money was reportedly run through a bitcoin mixer- a process that can reportedly cover its tracks from bitcoin into hard currency.
Regardless of who might be involved and their motivations behind the attack, it does demonstrate how technology remains vulnerable.
With all of the current hype surrounding Bitcoin, the vulnerability of technology raises some major concerns.
This is one reason that we believe that Bitcoin or other digital currencies will never be able to replace the comfort and value provided by real, hard assets like gold.
Yes-Bitcoin has been on the rise and yes-the digital currency has seem some market volatility. And yes-we believe the digital currency is nothing more than another bubble waiting to pop.
That being said, if your goal is risky speculation, then by all means put your capital at risk by investing in Bitcoin or other digital currencies. On the other hand, if you are looking for an asset that has the potential to appreciate in value while providing a meaningful hedge against numerous economic and geopolitical issues, then we believe there is one choice and one choice only:
Go to gold…
Gold has been considered a reliable store of wealth and value for thousands of years. It is a symbol of wealth, prosperity and security. It can potentially hedge your against falling paper currency values, inflation, deflation and more. It is real. You can touch it and hold it in your hands. It can be used as a medium of exchange anywhere on the globe.
It was here long before modern cryptocurrencies and will likely be here long after.
What are you waiting for?
Don’t succumb to the hype. If you want hard assets that can deliver, explore your options for physical gold ownership. Doing so has never been easier than it is today. Speak with an Advantage Gold account executive today about the potential benefits of physical gold ownership. Our associates are here to answer any questions you may have and can even show you how to buy and hold gold using your IRA account.
Don’t wait for the next major stock market collapse or for inflation to erode your purchasing power. Explore your options for gold ownership today. Call Advantage Gold at 1-800-341-8584 to get started now.Tags: advantage gold, bitcoin, crytocurrency, gold, hacking, ransomware, technology