Blockchain & Crypto

Cybercriminals Will Look Away from BTC: Kaspersky

Although crypto-related cybercrime won’t slow down in 2023, crooks will look for alternatives to Bitcoin as a source of payment, as regulation and tracking improves

cybercrime bitcoin

Ransomware negotiations and payments would rely less on Bitcoin. Source: pixabay.com

Cybersecurity firm Kaspersky noted in the new report that cybercrime-related payments would choose alternatives to Bitcoin as a transfer of value. In particular, the increase in digital asset regulations and tracking technologies will thwart cybercriminals’ ability to safely move funds.

The report also highlighted that crypto scams have increased along with greater digital asset adoption. However, people have also become more aware of crypto. Therefore, they are less likely to fall for primitive scams such as Elon Musk-deepfake videos promoting huge crypto returns.

At the same time, malicious actors will not stop trying to steal funds through fake initial token offerings. Moreover, NFT scams and crypto-based theft such as smart contract exploits will become more sophisticated and widespread.

In addition, malware loaders will become increasingly popular on hacker forums, being harder to detect. Kaspersky also expects ransomware attackers to shift from destructive financial activity to more politically-based demands.

The 2021 and 2022 witnessed a rise in “infostealers” – malicious programs that gather confidential information such as logins – as well as cryptojacking (injecting malware into a system to steal or mine digital assets) and phishing attacks.

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