A leading internet security firm has revealed that Crypto-related threats have followed the prices of digital assets, decreased significantly after the bearish market in May 2021. Russia and the US are in the top 3 rankings in these threats related to crypto.
A cybersecurity firm ESET has revealed in its Threat Report T2 2021 that software threats and mining malware are dependent on the crypto market movement. The firm has noticed a drop in Crypto related threats in the second third of the year but also stated that it doesn’t mean that there were no threats at all. The author explained in the report by saying:
Cryptocurrency investments scams, in which con artists lure their unsuspecting victims to fake investment websites or impersonate government authorities and even celebrities, are more popular than ever.
In May, Federal Commission has revealed that $80 million were scammed within just a few months since October 2020. Chainanalysis said that Finiko, a Ponzi scheme in Russia, received more than half of $800 million worth of crypto funds which were sent from Eastern Europe to scam addresses. ETES has noted that Crypto-related threats have decreased by 23.6% in T2, 2021.
Despite a significant drop in Crypto related threats, Russia is still at the top of the chart accounting for 10% of all cases. Peru is following at the chart with 6.8% and the US comes at number 3 with 5.3%. The head of Threat Detection Labs at ESET, Jiří Kropáč “In the past few months, we could see that while cryptominer detection rates fluctuated along with cryptocurrency prices, cryptostealer detections did not seem affected by the same factors.”
Cryptominers, like prices, are influenced by government regulations and major investments in specific coins, he explained further. I hope that Crypto-related threats will decrease with the time. for more content please click here.