Crypto-related cybercrime will not slow down in 2023, but will shift away from Bitcoin as a payment method: Kaspersky

According to the cybersecurity firm Kaspersky, crypto-related cybercrime will not slow down in 2023, but it will shift away from Bitcoin as a payment method.

Bitcoin (BTC) is expected to become a less appealing payment option for cybercriminals as regulations and tracking technologies improve, limiting their ability to move funds safely.

In a November 22 report, cybersecurity firm Kaspersky stated that ransomware negotiations and payments would rely less on Bitcoin as a means of transferring value as increased digital asset regulations and tracking technologies force cybercriminals to shift away from Bitcoin and toward other methods.

In addition, Kaspersky noted that as the use of digital assets has grown, so too have cryptocurrency scams.

However, it claimed that as cryptocurrency has gained popularity, people are less likely to fall for crude con games like deep fake Elon Musk videos that promise enormous cryptocurrency returns.

It was predicted that nefarious actors would keep attempting to steal money using false ICOs and non-fungible tokens (NFTs), and that crypto-based theft schemes like smart contract exploits would advance and become more common.

The report also mentioned that malware loaders, which are more difficult to detect, will become popular on hacker forums.

Kaspersky predicted that ransomware attackers might switch from financially destructive activity to demands that are more politically motivated.

Returning to the present, the report observed an exponential increase in “infostealers,” or malicious programs that gather information like logins, in 2021 and 2022.

Phishing and cryptojacking attacks have risen in 2022 as well, as cybercriminals use social engineering to seduce their victims.

Malware is injected into a system during cryptojacking in order to mine or steal digital currency.

The goal of phishing is to trick a victim into disclosing personal information or clicking a malicious link by sending them carefully crafted emails or messages.