It’s no news that cyberattacks have been a big issue in the crypto industry in 2021. It made the headlines on many occasions, with a number of crypto companies, such as CREAM Finance, Poly Network, Bilaxy, Coinbase, and Vee Finance reportedly losing hundreds of millions of dollars worth of digital assets to malicious attackers. It has become inherent in the industry.
With 2021 drawing to a close and 2022 lurking, cybersecurity expert Kaspersky, has released its annual paper on ‘Cyberthreats to financial organizations’ and two other items about digital assets for next year. Kaspersky, which explains the possibility of cybersecurity threats in the industry, predicted last year about a number of attacks the crypto industry would encounter this year. Interestingly, the company was only wrong about one.
Kaspersky’s 2022 Predictions
In the report, the cybersecurity expert and anti-virus manufacturer stated that malicious actors and state-sponsored players will target the crypto industry. Kaspersky added that crypto businesses serve as a prime spot for these cybercrime groups because of the anonymity they offer users as well as facilitating transactions online.
The company said that the continuous growth of the crypto industry and the huge amount of money being invested are lucrative aspects that these groups won’t be able to resist. State-sponsored attacks will also be carried out against crypto businesses.
While people can deal with cybercriminals, the state-sponsored groups would be tough to address. Kaspersky opine that these groups will target cryptocurrency and the dealers by employing complex methods.
The company went again to reveal another ploy that would be likely used to attack crypto businesses. It stated that malicious attackers will manufacture fake devices with backdoors to steal digital assets from wallets.
It added that a locally stored wallet is just as susceptible to attacks as a cloud-based one and hardware crypto wallets because there are no reliable tools to access their security levels. Cybercriminals will capitalize on selling rogue equipment with backdoors, in addition to its campaigns and lucrative investment opportunities to steal victims’ assets.
Already, dubious software wallets are rampant, as there have been several reported cases of missing funds in this type of wallet. Kaspersky disclosed that fake hardware wallets might be the next frontier for these attackers.
Following the Ledger hack this year, users uncovered suspicious-looking Ledger wallets. A more advanced criminal could make them even look better, and this could wreak havoc in the crypto community.
Last Items Focus Banking and Finance
The report also talked about an increase in ransomware attacks in the traditional banking sector and a rise in infostealers. It also predicted data breaches in Mobile Banking.
Some crypto communities, after reading the report, deemed the predictions “scary.” However, it is only a warning shot at crypto companies to beef up their securities in all spheres, as cyberattacks could come from anywhere.
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