Botnet Attacks and Ransomware on Cryptocurrency Will Continue: Check Here for All Details

Botnet Attacks and Ransomware on Cryptocurrency Will Continue

According to Sophos, ransomware and other cyberattacks will continue to leverage cryptocurrency as a payment method.

More than 79% of all global cybersecurity breaches were caused by ransomware assaults, according to the report.

Investigations and remediation of these instances by Sophos’ fast response team have revealed that some of these attacks target crypto investors via fraudulent app login screens.

Security risks and trends for organizations in 2022 and the threat landscape in 2021 are the focus of Sophos’ 2022 Threat Report released this weekend.

Also Read: Bitcoin Soars Toward USD 40K: Amid Speculation Over Amazon Cryptocurrency Plans

Additional insights on probable flaws that could be exploited in the future are also included in the report.

Botnet Attacks and Ransomware on Cryptocurrency Will Continue

Flubit, a class of mobile malware that caused havoc in 2021 and is one of the most prevalent banking trojans on Android, is mentioned in the paper.

Users are shown phony login screens for banks and cryptocurrency apps by spyware, and their passwords are stolen this way.

To steal bank information, it also takes data like the contact list, which it then uses to spam the victim’s contacts with messages that potentially infect further Flubot victims.

DHL, FedEx, and UPS are among the main international parcel shipping companies that have been targeted by malware. SMS alerts with a URL link are sent to the victim, as are SMS messages posing as voicemails and include a web link.

Another concern raised by Sophos is the rise in popularity of automated botnet attacks like Mirai, which are increasingly being used to spread crypto-mining malware.

By infecting corporate assets like as servers and Ios devices with these bits of malware, cybercriminals can mine bitcoin and disseminate it to further devices using the combined processing power of hundreds or thousands of workstations.

Botnet Attacks and Ransomware on Cryptocurrency Will Continue

“There are several reasons why criminals operating in places of the world that are still subject to economic sanctions choose to use cryptocurrencies as a means of avoiding penalties.

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Even more so, because of the anonymity of bitcoin, it is difficult to know where the money goes “It’s stated in the document.

Bitcoin will continue to be used by criminals to dodge sanctions and hide involvement in illegal activities in 2022, according to a report by Sophos.

Ransomware and cryptojacking are the two most prominent methods criminals can directly accept cryptocurrency payments from their victims.”

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