Cybercriminals will move away from BTC as regulations and technology improve

Cybercriminals will move away from BTC as regulations and technology improve

Bitcoin (BTC) is expected to appear as an increasingly less attractive payment option to cybercriminals as regulations and tracking technologies improve.

cyber security company KasperskyIn its report dated November 22, he suggested that ransom negotiations and payments will be made less and less with Bitcoin. According to Kaspersky, the development of digital asset regulation and tracking technologies will force cybercriminals to look for other methods by turning them away from Bitcoin.

Cointelegraph’s According to the news, in 2021, the value of ransom payments made in crypto exceeded $ 600 million. In major attacks such as the Colonial Pipeline attack, the ransom was demanded in BTC.

Kaspersky also pointed out that with the increasing use of digital assets, crypto scams are also on the rise. On the other hand, as people’s awareness of crypto rises, they are less likely to be fooled by Elon Musk’s deepfake videos promising high crypto profits.

The cybersecurity firm predicts that malicious people will continue to try to steal through fake ICOs and NFTs, while crypto-based thefts such as smart contract attacks will evolve and become more common.

2022, on the other hand, was a year when blockchain bridges were mostly targeted. More than $2.5 billion has been stolen from blockchain bridges since the beginning of the year.

Kaspersky predicts that ransomware attackers will also turn away from destructive financial activities and turn to more political demands.

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