bitcoin (BTC) is expected to become a less attractive payment option for cybercriminals as regulation and tracking technologies improve, thwarting their ability to move funds securely.
Cyber security company Kaspersky on November 22 message noted that ransomware negotiations and payments would rely less on bitcoin as a transfer of value, as the rise in digital asset regulations and tracking technologies will force cybercriminals to shift away from bitcoin to other methods.
As Cointelegraph reports, ransomware payments using cryptocurrencies exceeded $600 million in 2021 and some of the biggest heists like the Colonial Pipeline attack demanded BTC as ransom.
Kaspersky also noted that cryptographic fraud has increased along with greater adoption of digital assets. However, he said that people have become more aware of cryptocurrencies and are less likely to fall for primitive scams such as Elon Musk – Deeply Fake Videos promising huge cryptocurrency returns.
She predicted that malicious actors will continue to attempt to steal funds through fake initial token offerings and non-fungible tokens (NFTs), and cryptocurrency-based theft such as smart contracts will become more advanced and widespread.
2022 was largely a bridge mining year with more than $2.5 billion has already been stolen from them, as reported by Cointelegraph.
The report also states that malware loaders will become hot property on hacker forums as they become harder to detect. Kaspersky predicted that ransomware attackers may shift from destructive financial activity to more politically based demands.
Back to the present, the report noted an exponential increase in 2021 and 2022 in “infostealers” – malicious programs that collect information such as login credentials.
Cryptojacking involves inserting malware into a system to steal or mine digital assets. Phishing is a technique that uses targeted emails or messages to lure a victim into revealing personal information or clicking on a malicious link.