For the first time since September 2013, the value of a bitcoin has reached over $1,000.

It's uncertain as to why the surge, but it is speculated to be a function of the weak yen. One bitcoin is now valued at $1,029.33.

Bitcoins are developed around Blockchain, which is a cryptographic protocol. It's popularity is linked to its difficulty to trace and is particularly liked for that reason by cyber-criminals.

In September of 2013, a bitcoin was valued at $1,100. But when the Tokyo-based Mt. Gox exchange was hacked, its value dropped to $400.

The majority of bitcoin trading takes place in China. More than 5 Million Bitcoins were traded within 24 hours since the turn of the year.

It's unclear as to how the ransomware authors will respond to this news.

Source: The Hacker News