Kaspersky reports that with regulation and tracking, cybercriminals are abandoning BTC

Kaspersky reports that with regulation and tracking, cybercriminals are abandoning BTC

Bitcoin is becoming resistant to exploitation by cybercriminals thanks to regulation and increasingly precise tracking tools. This is the opinion shared by Kaspersky developers. In doing so, they point to another significant threat in the cryptocurrency sphere.

Bitcoin free from cybercriminals

Kaspersky is a well-known cybersecurity brand. It is also an authority that tracks movements in the cryptocurrency segment. Its analysts on Tuesday, November 22, shared the excellent findings of their research, which should significantly improve sentiment around the leading cryptocurrency, and even change the narrative that has been encountered more than once.

After all, it turns out that through the eyes of cybercriminals, Bitcoin (BTC) is becoming less and less attractive. This fact is supported by increasingly new regulations, as well as technologies that support the tracking of transfers. This largely thwarts the ability to move funds anonymously, as well as their eventual laundering.

Many people, including politicians, have repeatedly pointed to the use of cryptocurrencies for ransom payments, during ransomware attacks. In 2021, the total value of these transactions exceeded $600 million. Bitcoin was the most frequently used asset in this aspect.

Cryptocurrency fraud on the rise

Kaspersky analysts also noted that cryptocurrency scams are constantly on the rise. Their victims are most often newcomers to the market, who are fooled by seemingly simple tricks. However, over time they become more and more aware, and thus resistant to cheap tricks.

On this occasion, Kaspersky representatives warn that ICOs and NFT projects will remain a sensitive part of the market. It is within these that the most theft may take place. It is also worth watching smart contracts, around which more exploits may appear. 

The current year, a time of exploits

As the data shows, 2022 was a time of exploits within the bridges between networks. These attacks resulted in robberies amounting to $2.5 billion. Due to the fact that these elements are quite fragile, attacks on them may still continue.

In addition, there has been a significant increase in infostealers recently. These are malware focused on stealing logins and passwords. A similar trend applies to cryptojacking and phishing attacks. The number of these has also increased significantly in 2022.

So even though Bitcoin is becoming safer in its own right, it’s still worth staying vigilant. The cryptocurrency market remains young and still full of vulnerabilities. Awareness of potential risks is the foundation, to successfully circumvent them. 

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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