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Kaspersky, a cybersecurity firm, believes the amount of crypto-related cybercrime will increase in 2023. However, the antivirus company argued that these perpetrators would stay away from Bitcoin.

According to Kaspersky, regulations and tracking mechanisms have increased for Bitcoin. Hence, cybercriminals might stop accepting Bitcoin payments.

Kaspersky Says BTC Is No Longer Enticing To Fraudsters 

According to reports, Bitcoin is no more enticing to criminals than before. Cybercriminals may have to use new means of payment for their criminal activities.

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This is due to the recent increase in regulations on BTC. Also, technologies have emerged that make Bitcoin transactions easier to track.

Hence, fraudsters can no longer move their looted funds secretly. According to a blog post by Kaspersky earlier in the week, ransomware payments will depend less on BTC payments.

Earlier reports indicate that ransomware crypto payments hit over $600 million last year. Some huge heists, like the Colonial Pipeline attack, asked for Bitcoin payments as ransom.

Additionally, Kaspersky noted that crypto scams increased as crypto adoption increased. However, more individuals are now knowledgeable about crypto.

Hence, only a few people will fall for old scams like videos of celebrities promising crypto rewards. The cybersecurity firm believes fraudsters will begin to use NFTs and ICOs to steal funds.

Also, the exploitation of smart contracts would increase and be more advanced. Moreover, 2023 has witnessed the exploitation of several bridges and smart contracts.

Therefore, the cases of such attacks might likely increase in 2023. Another of Kaspersky’s predictions is that ransomware attackers would start making politically-based demands.

Increase In Various Forms Of Cybercrimes

In addition, Kaspersky predicted that the number of “info stealers” would increase. Info stealers are malicious programs that gather login information of various users.

Before now, users are advised to be wary of platforms or websites which are copycats of the original. Such platforms gather user data such as wallet keys, usernames, and passwords.

Furthermore, phishing attacks and cryptojacking have increased this year. Cybercriminals are also known to have employed social engineering techniques in their dealings.

They use these techniques to lure unsuspecting individuals on social media platforms. Sometimes, these malicious actors use fake identities to prevent being caught.

Cryptojacking is a cybercrime in which a criminal uses a person’s computer to mine crypto. It is also called malicious crypto mining.

Cybercriminals can mine crypto without paying for hardware, power, or mining resources. Phishing is a method where a fraudster uses targeted messages or emails.

The messages or emails trick individuals into disclosing personal data or clicking on a harmful link.

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George Ward

By George Ward

George Ward is a crypto journalist and market analyst at Herald Sheets, known for his engaging articles on the latest digital currency trends. With a background in finance and journalism, he presents complex topics accessibly. George holds a degree in Business and Finance from the University of Cambridge.