Kaspersky says cybercriminals will stop turning to bitcoins as regulation and monitoring improve
(BTC) is expected to become a less attractive form of payment for cybercriminals as regulations and tracking technologies improve, hindering the safe transfer of funds.
Cyber security company Kaspersky on November 22. noted in the report that ransomware negotiations and payments will be less dependent on bitcoin as a transfer of value because Increased digital asset regulations and surveillance technologies will force cybercriminals to stay away from bitcoin and use other methods.
- Crypto fraudsters use black market identities to avoid detection, CertiK reports
As reported by Cointelegraph, in 2021 ransomware payments exceeded $600 millionand some of the biggest hits, like the colonial (BME:) pipeline attacks, demanded BTC as ransom.