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January 3, 2023

Cryptocurrency Racket: The Growing Perils of Investing in Mysterious Cryptocurrencies

Cryptocurrency is a game-changer and has contributed to the upliftment of the global economy. In comparison to the same period in 2021, CloudSEK has noted an increase in cyber threats targeting the cryptocurrency sector in 2022. The cryptocurrency markets have experienced turbulence in 2022, with significant price drops for all currencies.Cryptocurrencies are not regularly governed by the government; this makes them more vulnerable to cybercrime around the globe. Potential victims are lured in by hype and the promise of quick returns to cryptocurrency scams, which typically pose as passive crypto investing opportunities with enormous promised returns.Based on activities tracked and data collected by CloudSEK’s contextual AI digital risk platform XVigil, Databases were the prime target of crypto criminals followed by Malware, Services offered for hacking or scam, vulnerability or exploits of various web and mobile crypto-related applications, and Access to wallets and accounts.Authors: Abhinav Pandey and Suchita KatiraEditor: Deepanjli Paulraj

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Abhinav Pandey
Suchita Satyaprem Katira
Cryptocurrency Racket: The Growing Perils of Investing in Mysterious Cryptocurrencies

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