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Cryptocurrency

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Compounding those incentives severalfold has been the arrival and proliferation of cryptocurrency over the past decade, along with innovation that has dramatically magnified the potential return-on-investment for criminals involved in cybercrime, simultaneously increasing their ability to earn money through cybercrime and improving their ability to hide while doing so. Criminals historically faced a challenge when receiving payments since the account from which they ultimately withdrew the money could often be tied to them. Cryptocurrency effectively eliminated such risks.

In addition, not only has the dramatic rise in the value of cryptocurrencies held by criminals over the past few years enriched many crooks, providing evildoers with the resources to invest in enhancing their cyber-arsenals, but also the public’s perception of cryptocurrency as a quick way to get rich has helped scammers perpetuate all sorts of social engineering–based cybercrimes related to cryptocurrency investing.

Furthermore, the availability and global liquidity of cryptocurrency has helped criminals launder money obtained through the perpetration of all sorts of crimes.

Cybersecurity For Dummies

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