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Businesses are stockpiling Bitcoin for cyber extorsion payoffs

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    Spooked by spike in cyber extortion, businesses are stockpiling Bitcoin for payoffs

    U.S. corporations that have long resisted bending to the demands of computer hackers who take their networks hostage are increasingly stockpiling Bitcoins, the digital currency, so that they can quickly meet ransom demands rather than lose valuable corporate data.

    “It’s a moral dilemma. If you pay, you are helping the bad guys,” said Paula Long, chief executive of DataGravity, a Nashua, N.H., company that helps clients secure corporate data. But, she added, “You can’t go to the moral high ground and put your company at risk.”