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Crypto-Ransomware Attacks Are Spreading Like a Hacking Wildfire

Published 06/17/2020, 10:19 AM
Updated 06/17/2020, 12:00 PM
Crypto-Ransomware Attacks Are Spreading Like a Hacking Wildfire

The last two years have witnessed a hefty uptick in crypto-centric ransomware attacks. Not only are bad actors becoming more refined, but they are facilitating access to other, less sophisticated ones. According to experts, crypto crime of this nature has been especially prevalent amid the coronavirus pandemic. But how does it all connect, and what can the industry do to stamp it out?

As with all groups, the cryptocurrency sector has its portion of bad apples. Since 2018, ransomware attacks worldwide have increased by 200%. To make matters worse, the software required to carry out such attacks is widely available on the darknet.

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