Bitcoin News, Cryptocurrency News, Regulation

Increasing Ransomware Attacks Are 75% Up In 2020 Due To COVID.

Within the recent official remarks at the House meeting on illicit digital activities, Representative and subcommittee chair Emanuel Cleaver [D-MO] revealed a serious jump for ransomware online crimes within this year.

While adding further, Cleavor added within his opening statements of the June 16 virtual hearing before the Subcommittee on National Security, International Development, and Monetary Policy:

“We are observing a 75% spike in daily cybercrimes, reported by the FBI since the beginning of the pandemic.”

Malware Attacks In Specific  Sectors

After coronavirus prevention measures caused business closures and shelter-in-place orders from mid-March, several businesses looked to remote work. As droves of individuals hiked their web activity, hackers saw more opportunities. Amid newfound requirement for online meetings, for instance , popular video meeting platform Zoom suffered recent widespread data leaks issues.

Called on for comment as a witness within the meeting, VMware’s head of cybersecurity strategy, namely, Tom Kellermann, focused out the finance industry, revealed around 238% hike within related web crime between January and May this year in 2020. “This is compounded by the 900% hike in the total ransomware attacks,” he added.

Hacks & Crypto Connection

After noting variety of the way nefarious parties have preyed on victims, Kellerman revealed an uptick in cryptocurrency exchange hacks and leaks. He also added that parties use these venues as a way of money laundering, in tandem with the increasing dark web activities as well as anonymous digital assets.

“Dark web forums by anonymous virtual currencies have created a bazaar for criminals and arranged crime to succeed in a worldwide market,” Kellerman said, also mentioning “extremist organizations.”

The VMware cybersecurity head added:

“Many of those payment systems and crypto assets offer true or relative anonymity. This raises the need of increased regulation of digital money.”

In combination with variety of other points, Kellermann focused on increased regulation as a possible solution, mentioning several proposed regulatory actions.

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