Liability Risks of ICOs

Just a couple of years ago Bitcoin and other cryptocurrencies were virtually unknown to most people. To the extent people were aware of them at all, they were seen largely as a mysterious form of money preferred for shady transactions. In the past year, Bitcoin has made headlines as an investment vehicle, though a highly volatile one. A single bitcoin was trading at nearly $20,000 in December, 2017 before plummeting to about $7,000 in February. As of April 25th, it was trading at $8,873.

Though derided by some experts as a bubble, or even a fraud, Bitcoin and other cryptocurrencies have caught the attention of Wall Street. Cryptocurrency funds have been launched and cryptocurrency futures are now traded. Respected financial market analysts now follow the cryptocurrency market.

Read more at https://www.advisenltd.com/blog/2018/04/28/liability-risks-icos/

Dave Bradford. (2018, April 28). Liability Risks of ICOs [Blog].

This blog post in an excerpt of the original. The content originally appeared in Advisen Ltd. Blog Page.

Should you Cough up Money to Hackers?

Last week Hollywood Presbyterian Medical Center said it paid hackers $17,000 in virtual currency bitcoin to get out from under a malware attack that locked access to certain computer systems and prevented the hospital from sharing communications electronically.

But is this practice advised, and is it covered by insurance?

To start, a survey early this year from nonprofit Cloud Security Alliance found that 24.6 percent of companies would be willing to pay a ransom to hackers to prevent a cyberattack and 14 percent would pay more than $1 million.

Read more at http://www.advisenltd.com/2016/02/29/should-you-cough-up-money-to-hackers/

Chad Hemenway, Should you cough up money to hackers?, Advisen News (February 29, 2016), available with subscription at Advisen Cyber Front Page News.