Europol: Crypto-Ransomware Remains Most Prominent Cyber Attack
Joeri Cant's original article for cointelegraph.com reduced by 71%
Crypto exchanges continue to be a magnet for hackersOn Oct. 9, Europol presented its IOCTA report of the cybercrime threat landscape. Europol's fifth edition of its IOCTA report paints a troublesome picture and shows that cryptocurrency-ransomware remains the most prominent cyber attack that European cybercrime investigators are confronted with, followed closely by attacks that illegally acquire financial data, such as credit card information, online banking credentials or cryptocurrency wallets.
"Cryptocurrency exchanges continue to be a magnet for financially motivated hacking groups. In 2018, over $1 billion in cryptocurrencies were stolen from exchanges and other platforms worldwide." Europol further points out that different entities within the cryptocurrency ecosystem could be perceived as profitable targets for cybercriminals. The law enforcement agency believes that the trend of crimes is evolving to target cryptocurrencies and that more financially motivated cybercrime gangs will shift their focus to any entity with large holdings of cryptocurrency assets.
"Law enforcement must continue to build trust-based relationships with cryptocurrency-related businesses, academia, and other relevant private sector entities, to more effectively tackle issues posed by cryptocurrencies during investigations." Law enforcement succeeded in bringing down the ring, which sold fake notes on the dark web in return for Bitcoin.
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