According to cybersecurity firm Kaspersky, crypto-related hackers will employ other cryptos as a source of payment in cybercrimes rather than Bitcoin (BTC) as regulation and tracking continues to increase.
The ability of hackers to transfer money securely is predicted to be hindered as legislation and monitoring technology advance, making Bitcoin (BTC) a less attractive payment option.
In a report released on Nov. 22 by the cybersecurity company Kaspersky, it was noted that the use of Bitcoin in ransomware negotiations and payments would decrease.
This is because tighter regulations on digital assets and the development of tracking tools will force cybercriminals to switch to other strategies.
Using cryptocurrency, ransomware payments surpassed $600 million in 2021, according to Cointelegraph, and some of the greatest robberies, like the Colonial Pipeline assault, requested bitcoin as a ransom.
In addition, Kaspersky observed that as the use of digital assets has grown, also has cryptocurrency fraud. However, it said that as cryptocurrency has gained popularity, consumers are less likely to fall for crude con games such as deep bogus Elon Musk movies that promise enormous cryptocurrency profits.
It was expected that fraudulent initial token offers (ITOs), nonfungible tokens (NFTs), and crypto-based theft, such as smart contract vulnerabilities, will continue to be attempted by bad actors.
The research also said that malware loaders, which are more difficult to detect, would become popular on hacker forums. Kaspersky anticipated that ransomware attackers would switch from financially harmful behavior to demands that are more politically motivated.
Returning to the present, the research saw an exponential increase in “infostealers,” or harmful programs that acquire information like logins, in 2021 and 2022.
Phishing and cryptojacking attempts have risen in 2022 as well, as fraudsters use social engineering to entice their victims.
Malware is injected into a system during cryptojacking in order to mine or steal digital currency. The goal of phishing is to trick a victim into disclosing personal information or clicking a dangerous link by sending them carefully crafted emails or texts.
