Cryptocurrency will continue to face Ransomware, Botnet Attacks in 2021


Cryptocurrency will continue to face Ransomware, Botnet Attacks in 2021

Cybersecurity firm Sophos said that ransomware attacks will continue to make use of cryptocurrency. It is observed that Ransomware attacks constituted 79 percent of all global cybersecurity breaches over the past year and a half. These incidents reveal that some of these attacks target crypto investors through fake app login screens.


The malware presents users with fake bank and cryptocurrency app login screens to steal the user's passwords for those services. It also steals data like the contact list, which it uses to spam the victim's friends and associates with messages that can lead to additional Flubot infections.


The malware spreads primarily through SMS text messages and impersonates popular shipment tracking services from major international parcel shipment services like DHLFedEx and UPS. The victim receives SMS alerts with a URL link, and occasionally an SMS that pretends to be a voicemail message, also with a web link.


The report added, "The illicit use of cryptocurrency, both to evade sanctions and to obfuscate involvement in criminal activity, will continue to increase in 2022, with ransomware and crypto-jacking being the two most prominent ways that criminals can directly receive cryptocurrency payments from their victims."


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