One of the questions that naturally arise for those working within the cybersecurity industry after the fall of the FTX exchange puts an end to the cryptocurrency crash of 2022, includes asking how it will affect the cybercrime economy as a result of this rapid decline in cryptocurrency valuations.
Cybercriminals have been using and abusing cryptocurrency ever since the most recent crypto boom began more than a decade ago to build up their empires and make money. Through the use of cryptocurrency, ransomware is creating a world where you can pay extortion and face jail time. By using cryptocurrency, scammers target consumers to steal their wallets and accounts. A wide range of cybercriminal enterprises has traditionally relied on this method to conceal the fact that they are laundering money behind the scenes in an anonymous manner.
Although many cybersecurity experts and intelligence analysts agree that there have been some changes in trends and tactics that they believe are loosely related to the crypto crash, the jury is still out on the effects of the crypto crash over the long run, and the jury is still out on how the crypto crash will affect the cyber world.
The Shifting Trends & Tactics of Cryptocurrencies in 2022
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