Kaspersky’s 2021 cybercrime report showed that Bitcoin theft would be more attractive if economies in the world continue to struggle next year.
The report entitled “Cyber threats to financial organizations in 2021” stated that more fraud targeting bitcoin is expected in 2021.
It will be because there will be even more crime because of the lack of opportunities caused by the COVID-19 pandemic. And also, because of weak fiat currencies, more people will depend on Bitcoin.
“We might see certain economies crashing and local currencies plummeting, which would make Bitcoin theft a lot more attractive,” the report stated. “We should expect more fraud, targeting mostly BTC, due to this cryptocurrency being the most popular one.”
The report emphasized that a “massive wave of poverty” is expected because of the pandemic, making more people resort to crime, specifically cybercrime.
In 2021, criminals will be using other cryptocurrencies as “transition currencies” to make the stolen assets turn into other coins to cover their tracks. The report mentioned Monero as a possible option. “There is a reason to believe they might switch to other privacy-enhanced currencies, such as Monero, to use these first as a transition currency and then convert the funds to any other cryptocurrency of choice including BTC,” the report noted.
In the report, Kaspersky also noted that this year, the companies had been less secured because of “hastily developed remote work solutions” after the pandemic.
This made cyber attacks more possible. Kaspersky added in the report that next year, the world would be seeing more extortion attempts too.
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