In general, while the crypto money industry continues to progress rapidly, fraud cases in this area are also increasing rapidly. Finally, a report by cybersecurity company SonicWall stated that the number of crypto fraud cases in the financial sector increased by 269 percent in the first half of 2022.
The mid-year update to the 2022 SonicWall Cyber Threat Report is now available. Gain the in-depth, actionable #cyber threat intelligence your organization needs to navigate the unknowns of tomorrow. Find out what’s in the exclusive report: https://t.co/x7daiknrPo #KnowTheThreats pic.twitter.com/sjibLDVdNh
— SonicWall (@SonicWall) July 26, 2022
Increasing Crypto Fraud In The Financial Industry
According to a report by SonicWall, the number of crypto fraud cases in the financial sector increased by 269 percent in the first half of 2022. Crypto scam is a type of cyber attack in which hackers place a piece of software that mines cryptocurrencies on the victim’s computer. In addition, the report stated that the victims were often unaware of the abuse, which contributed to the increase in cases.
However, the increase in this data is also attributed to the decrease in ransomware attacks. This is compounded by the growing interest in cryptocurrency-related cyberattacks, as well as tighter insurance processes around ransomware.
This rise is five times greater than the second highest number of attacks on the financial sector, with sales.
13493
