Expansion of DeFi and Crypto Puts US at Risk of More Ransomware Attacks? A new study reveals why hackers are concentrating their efforts on North America.
In the United States and other parts of the world, DeFi and cryptocurrencies continue to draw new customers. BitCoin, Ethereum, and other blockchain tokens are still experiencing unpredictably rising and decreasing values.
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Despite this, many individuals, enterprises, and other businesses continue to take the risk of investing in their favorite crypto currency. However, security experts have cautioned that the growing crypto and DeFi markets are making the United States the most popular ransomware target.
A new study was done by Chainalysis, a blockchain analytics platform that allows cryptocurrency firms, financial institutions, and government organizations engage in the growing block network.
“North America is the second-largest cryptocurrency economy we track, with over $750 billion in cryptocurrency received between July 2021 and June 2020,” according to the blockchain analytics platform’s official blog post.
Are DeFi and Crypto Putting the United States at Risk of More Ransomware Attacks?
According to Chainalysis’ latest research, North America is not the most common ransomware target. According to the platform, crypto transactions in the United States accounted for 18.4 percent of global cryptocurrency activity between June 2020 and July.
Olympus has been hit by a cyberattack, forcing the company to shut down IT systems in the United States, Canada, and Latin America.
However, this was also the time when North America was purportedly targeted by Russian-linked hackers. Phoenix Cryptolocker, Doppelpaymer, Netwalker, Egregor, and other ransomware gangs are among them.
North America is now the major target, according to involved cybersecurity specialists, because consumers in North America practically paid twice as much in cryptocurrencies as consumers in Western Europe.
Ransomware perpetrators are currently increasing their scope to include additional countries. In other news, as part of its anti-ransomware program, Australia now wants to collect data from compromised firms.
Ukraine, on the other hand, has apprehended the ransomware group that has infected hundreds of businesses across North America and Europe.
Microsoft Windows is also having issues.
Another ransomware analysis indicated that 95 percent of more than 80 million ransomware attacks are now focused at Microsoft’s Windows, according to National Cybersecurity Today’s latest report.
The security investigation was carried out by VirusTotal, a Google-owned database. According to Vicente Diaz, one of VirusTotal’s top experts, the targeted Windows users are located in China, Singapore, India, Kazakhstan, Iran, the United Kingdom, and the Philippines.
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