Kaspersky Lab specialists predict an increase in cryptovoltaic crimes due to the crisis amidst the COVID-19 pandemic.
A report on potential financial threats in 2021, based on this year’s data and trends, states that attacks aimed at stealing Bitcoins „will become more attractive against the backdrop of the worsening economies of many countries due to the pandemic“.
The company predicts that the weakening of fiat currencies in a crisis could push people into cyber-crime, leading to more cryptographic theft and fraud. The report states that the focus will be on bitcoin because it is „the most common cryptographic currency“.
However, Kaspersky Lab draws attention to the fact that many cybercriminals are increasingly using „intermediate currencies“ with heightened levels of anonymity, such as Monero (XMR) and Zcash (ZEC), which are then converted to bitcoin.
This trend is due to the fact that law enforcement agencies actively use the services of block analysis companies that monitor and deanonymise bitcoin users. The report mentions the confiscation of over $1 billion worth of Silk Road-related bitcoins.
The number of attacks on extortion programs that require ransom in cryptographic software is expected to increase. „Organizations that could be harmed by data loss and a lengthy recovery process are in the spotlight for cybercriminals who will attack them using extortion software,“ experts say.