You are currently viewing Cybercrooks to ditch BTC as regulation and tracking improves: Kaspersky

Bitcoin (BTC) is forecasted to be a less enticing payment choice by cybercriminals as regulations and tracking technologies improve, thwarting their ability to safely move funds.

Cybersecurity firm Kaspersky in a Nov. 22 report noted that ransomware negotiations and payments would rely less on Bitcoin as a transfer of value as an increase in digital asset regulations and tracking technologies will force cybercriminals to rotate away from Bitcoin and into other methods.

As reported by Cointelegraph, ransomware payments using crypto topped $600 million in 2021, and some of the biggest heists, such as the Colonial Pipeline attack, demanded BTC as a ransom.

Kaspersky also noted that crypto scams have increased along with the greater adoption of digital assets. However, it said that people have become more aware of crypto and are less likely to fall for primitive scams such as Elon Musk-deepfake videos promising huge crypto returns.

It predicted malicious actors will continue trying to steal

Keep reading this article on Cointelegraph.com.

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