79% of cybersecurity incidents in 18 months fueled by crypto: Report

Fueled by cryptocurrencies, ransomware was involved in 79 per cent of the global cybersecurity incidents in the last 18 months of pandemic, led by Conti and REvil ransomware attacks, a new report showed on Monday.

Cryptocurrency will continue to fuel cybercrimes such as ransomware and malicious cryptomining, and the trend will continue until global cryptocurrencies are better regulated, according to researchers from global cyber security firm Sophos.

Over the coming year, the ransomware landscape will become both more modular and uniform, with attack “specialists” offering different elements of an attack “as-a-service” and providing playbooks with tools and techniques that enable different adversary groups to implement very similar attacks.