Kaspersky expects rise in cyberattacks on cryptocurrency in 2022

State-sponsored groups are expected to target the cryptocurrency industry, while cybercriminals will take advantage of investors by fabricating rogue wallet with backdoors included, global cybersecurity and digital privacy company, Kaspersky, has observed in its recent report.

As per Kaspersky, 2021 was a year of challenge and novelty and there always are those who adapt and manage change to their advantage quickly – cybercriminals.

“Since most of them are motivated by money, financial threats have always been one of the most significant parts of the threat landscape,” Kaspersky said in a report titled, ‘Cyberthreats to Financial Organizations in 2022’ report.

Kaspersky researchers have forecast several important tendencies expected to occur in 2022. Here are their key predictions.

Targeted cryptocurrency attacks will grow: As cryptocurrency is a digital asset and all transactions take place online, it offers anonymity to users. These are attractive features for cybercrime groups. However, it’s not only cybercriminal organizations but state-sponsored threat actors who have targeted this industry.

Flawed security and fake hardware wallets as crypto hardware-based threats: While cryptocurrency attacks are becoming more targeted, cybercriminals keep coming up with new ways to steal investors' financial assets. In the case of cryptocurrency investment opportunities, Kaspersky researchers conclude that cybercriminals will take advantage of manufacturing and retailing rogue devices with backdoors, followed by social engineering campaigns and other techniques to steal victims' financial assets.

Infostealers acceleration and consolidation: According to Kaspersky, simplicity, affordability, and effectiveness in attacks will play a key role in adopting infostealers against financial assets, at least as a first-stage data collector. Different threat actors will take advantage of it to profile victims for further attacks. It includes but is not limited to targeted Ransomware attacks, traditional targeted attacks, and others.

Mobile implants development consolidation: Pandemic stimulated mobile banking, which also has become more mature. Kaspersky experts expect more mobile banking Trojans for the Android platform, especially RATs that can circumvent security means adopted by banks (such as OTP and MFA). Local, regional Android implant projects will move globally, exporting attacks to Western Europe and other countries worldwide.

"This year has been challenging for many organizations: handling remote access for ad-hoc employees, patching hard systems connected to the Internet to endure ransomware attacks, dealing with a substantial increase of mobile banking and its malware implants. And cybercriminals have not been shy of taking advantage of attacking markets. We have watched very regional cybercriminals shifting to other world regions making cybersecurity people work harder,' said Dmitry Bestuzhev, head of Kaspersky’s Global Research and Analysis Team (GReAT) in Latin America.