The crypto crash, which has wiped out about $2 trillion in value and upended a once-fast-growing industry, has an unexpected twist: Even criminals are feeling the pinch.
Ransomware attacks have dropped sharply this year as perpetrators grapple with an economic downturn, the Ukraine war and the dramatic plunge in the prices of cryptocurrencies they’ve been routinely using to commit crimes.
“There is never any single reason why anything happens in cybersecurity [but] in this case, the thought that volatility in the crypto markets is a contributor to the drop in ransomware attacks makes sense,” said James Lee, chief operating officer of the Identity Theft Resource Center.
The number of ransomware attacks fell 20% sequentially in the second quarter, the first quarter-on-quarter drop since the ITRC began tracking ransomware attacks in 2018, the nonprofit organization said.
It’s not just the drop in the value of crypto. Enforcement efforts are having some impact, according to SonicWall,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...