Kaspersky Lab predicts growth in cryptocurrency crime in 2021

The year 2021 will be marked by an increase in the number of crimes involving cryptocurrencies, experts at Kaspersky Lab expect. They make such a forecast based on the assumption that the level of financial threats in general will increase in the next year due to the economic problems caused by the coronavirus pandemic..

Thus, attacks aimed at stealing bitcoins from users “will become more attractive as many countries have fallen into poverty as a result of the pandemic.” At the same time, fiat currencies are weakening, which, according to the authors, will increasingly push people to cybercrimes, including bitcoin theft and cryptocurrency fraud..

Kaspersky Lab also says that when demanding ransom, criminals have become less likely to request bitcoins, preferring “intermediate currencies” with increased privacy characteristics, such as Monero. According to the report, over time, the demand for such cryptocurrencies will only grow among cybercriminals, who will then convert their illicit income into bitcoin..

Last but not least, the change in preferences is influenced by the measures taken by the authorities to track, de-anonymize and confiscate cryptocurrencies. The authors cite a recent episode in which the US Department of Justice confiscated $ 1 billion in bitcoin related to the illegal Silk Road trading platform..

A rise in targeted ransomware attacks is also expected, which usually collect ransom in cryptocurrency. “Organizations that could be harmed by data loss are at gunpoint. More and more criminals are choosing them to carry out ransomware attacks, DDoS attacks, or even both types of attacks at once, “writes Kaspersky Lab..

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