Cryptocurrency Will Continue to Face Ransomware, Botnet Attacks in 2021: Sophos Cybersecurity Threat Report


Cybersecurity form Sophos says attacks such as ransomware will continue to use cryptocurrencies. In the past year and a half, ransomware attacks accounted for 79 percent of all global cyber security breaches, it said. These incidents, investigated and remedied by Sophos’ rapid response team, reveal that some of these attacks target crypto investors via fake app login screens.

Sophos’ 2022 Threat Report, which was published over the weekend, aims to provide perspective on security threats and trends facing organizations in 2022 and the threat landscape in 2021, with additional insights on potential loopholes that could breach in the future. Huh. NS Study talks about a mobile malware family that ran Riot in 2021, known as Flubot, one of the major banking Trojans affecting the Android platform.

Malware presents users with a fake bank and cryptocurrency App login screen to steal user passwords for those services. In addition to robbing bank details, it also steals data such as contact lists, which it uses to spam the victim’s friends and associates with messages that could lead to additional Flubot infections.

The malware is primarily spread through SMS text messages and mimics popular shipment tracking services from major international parcel shipment services such as DHL, FedEx and UPS. The victim receives an SMS alert with a URL link, and sometimes an SMS that pretends to be a voicemail message – also with a web link.

Sophos also warns that automated botnet attacks such as Mirai Also gaining prominence over the years, crypto-mining has become the vehicle of choice for distributing malware. As these bits of code infect various corporate assets such as servers and IoT devices, cybercriminals can use the collective processing power of hundreds or even thousands of machines to mine cryptocurrencies and spread it to further devices.

“Cryptocurrencies are well suited to the task as a method of avoiding sanctions, which is why criminals based in regions of the world that live under traditional economic sanctions deal exclusively in cryptocurrencies. Furthermore, because the cryptocurrency is anonymous, it can be difficult to determine where the money ends up,” the report said.

“Sophos believes that illicit use of cryptocurrency, both to evade sanctions and to engage in criminal activity, will continue to increase in 2022, with ransomware and crypto-jacking being the two most prominent ways by which criminals make direct cryptocurrency payments. can receive. Victims,” the report said.

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