Targeted cyberattacks are expected to rise in 2022 on the cryptocurrency industry

Enterprise Security Magazine | Thursday, February 03, 2022

Cyberattacks against cryptocurrency firms are anticipated to continue even in 2022, as per the survey conducted by Kaspersky.

FREMONT, CA: According to a survey by cybersecurity firm Kaspersky, targeted cyber attacks against the cryptocurrency business are predicted to continue in 2022, with state-sponsored organizations targeting the industry. One of the appealing features of cryptocurrencies for cybercrime gangs, as per Kaspersky researchers, is anonymity. It is a digital asset, and all transactions are conducted online, providing users with anonymity.

This industry has been attacked not only by cybercriminal organizations, but also by state-sponsored threat actors. APT organizations rise up to launch aggressive attacks on the Bitcoin industry can be noted and this trend is expected to continue. Furthermore, crypto hardware-based threats include flaws in security and fraudulent hardware wallets. This comes as fraudsters continue to develop new methods for stealing financial assets from investors, with bitcoin attacks becoming more focused.

Cybercriminals will take advantage of manufacturing and retailing rogue gadgets with backdoors, followed by social engineering campaigns and other ways to steal victims' financial assets, Kaspersky researchers concluded. Aside from that, infostealers are a rapidly increasing threat. According to the report, at least as a first-stage data collector, simplicity, affordability, and effectiveness in attacks will play a crucial role in the adoption of infostealers against financial assets. It will be used by various threat actors to profile victims for future attacks. It includes, but is not limited to, targeted Ransomware attacks, as well as typical targeted attacks.

Experts anticipate additional mobile banking Trojans targeting the Android platform, particularly RATs that may bypass bank security measures (such as OTP and MFA). Local, regional Android implant efforts are expected to spread globally, with attacks spreading to Western Europe and other parts of the world. Dmitry Bestuzhev, head of Kaspersky's Global Research and Analysis Team (GReAT) in Latin America said that many organizations have had a difficult year dealing with remote access for ad-hoc employees, significant increase in mobile banking and its malware implants and  patching hard systems connected to the Internet to withstand ransomware attacks.

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