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Geneva Recap: Biden Allegedly Got Tough With Putin Over Cyberattacks

CryptocurrencyJun 19, 2021 12:30AM ET
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Geneva Recap: Biden Allegedly Got Tough With Putin Over Cyberattacks

  • US President Joe Biden gave Putin, his Russian counterpart on the rising cyberattack cases, a piece of his mind.
  • He stated that unless Russia makes decisive moves to tackle cyber criminals, the US will be forced to take action.
  • This news arrives on the heels of the Colonial Pipeline hack which saw a ransom of $4.4 million being paid in BTC.
  • In light of the growing threat, President Biden stated that the next 6-12 months will be crucial in determining whether a working arrangement can be reached.

Rising incidents of cyberattacks have drawn the ire of US President Joe Biden as he talks tough to his Russian counterpart, Vladimir Putin. He firmly indicated the intention of the United States to take offensive action against the growing threat of cyberattacks, should the Kremlin remain indifferent.

Biden disclosed to reporters, after the meeting between the two presidents, that they seem to be on the same wavelength on the issue, and we could be seeing the start of an arrangement between the two nations that have been hit the hardest by cyberattacks.

Biden Bares His Teeth

The threat of cyberattacks has ballooned massively in recent months, making it impossible to ignore. The straw that seems to have broken the camel’s back was the Colonial Pipeline hack that led to a payment of a staggering $4.4 million in BTC.

Upon the conclusion of the meeting with Russia’s president in Geneva, which was centered around the issue of cybersecurity, Biden told reporters that he informed Putin of The US’ intent to “respond to actions that impair our vital interests or those of our allies.”

The US president maintained his tough stance, declaring that his Russian counterpart is well aware of the “significant” capabilities of the US when it comes to tackling cyberattacks. He further added that if these attacks continue in violation of basic norms, the US will respond.

President Biden highlighted critical areas of the US economy that must be considered off limits from cyberattacks, including the sectors of communications, energy, food, dams, and chemicals, among others.

On the Flipside

  • Russia’s Vladimir Putin has refuted allegations that Russia is waging a cyber war against the United States.
  • He rebuffed demands for proof to be delivered ahead of his meeting with US President Joe Biden.

Plotting the Path for the Future

Reports suggest that Putin shares the same sentiments as Biden and that a concrete plan may materialize in the near future. Inference was drawn from Biden’s comments that the two leaders have “agreed to task experts” in their respective countries to “work on specific understandings about what is off limits and follow up on specific cases.”

In Putin’s own press conference, he stated that the US and Russia have entered an agreement to begin consultations around the issue of cybersecurity. Biden determined that it will be clear in the immediate future whether or not there is to be a cybersecurity arrangement that brings order.

In the event that decisive action is taken, the future could see law enforcement agencies physically going after the servers of cybercriminals, or their crypto accounts, according to a security expert.

The aftermath of the Colonial Pipeline attack has resulted in firms taking frantic action to beef up their security. In a similar vein, lawmakers are attempting to pass bills into law that require additional safeguards against attacks.

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Geneva Recap: Biden Allegedly Got Tough With Putin Over Cyberattacks
 

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