PayPal will prevent cryptocurrency extortion

PayPal has received a patent for a new cyber security technology designed to protect users from extortionists cryptocurrency. Reports the Cointelegraph edition about it.

The system is described in the patent as a “technique for detecting and preventing the extortion of funds” and is intended to improve the system of crypto extortionists and protect the user data.

The document also states that extortionists often encrypt user data and require a certain amount of cryptocurrency for decryption.

PayPal is trying hard to prevent this and protect files from encryption. The system described in the patent is able to detect a malicious program before encryption begins, which will significantly reduce the number of cases of digital blackmail.