Why Do WannaCry Hackers Demand only Bitcoins?

The Wanna Cry cyber attacks were one of the biggest attacks of this sort, influencing computers in countries around the world in India, CERT-in issued a red alert about the cyber attacks, and reports have been pouring in about ransomware attacks in India.

In this ransomware attack, the Wanna Cry virus influences you computer, spreads, and then encrypts all of your data, locking you out of your own system. If you pay up quickly, you'll get your data back, but otherwise, it's all gone for good. The hackers behind these cyber attacks have reportedly demanded $300 worth of Bitcoin - roughly Rs. 19,000 as per current Bitcoin value - to unlock each system.

What is Bitcoin?

Bitcoin is a digital money that depends on an idea in an innovation called the blockchain record. There's no national bank that issues these 'coins', yet they are coordinated against an open record to distinguish who at present claims a 'Bitcoin'. You can "mine" Bitcoins, or get them in the open market, however, there's no official rate of trade or government oversight. Rather, a Bitcoin is justified regardless of whatever the market will acknowledge.

Bitcoins are popular among to hackers

The main reason of Bitcoins are not actual physical coins, they're just lines of code. They're digitally signed from one owner to the next owner, but they're not regulated by any government and are largely anonymous, so Bitcoins are quite popular among hackers

Bitcoin transaction tracing impossible?

Bitcoin is certainly harder to trace than a credit card payment, but at the same time, the public nature of the Bitcoin ledger means that you can see the payments themselves. Now, you don't necessarily know who owns the wallet, and people can "wash" the coins to throw off tracking using services called "tumblers", that basically make a lot of trades back and forth, with Bitcoins from lots of different sources.