• Tue. Nov 2nd, 2021

Deepfakes, cryptocurrencies and mobile wallets: cybercriminals find new targets

ByHazel R. Lang

Oct 26, 2021

Ransomware activity during 2021 reached new heights, with key infrastructure affected in several high-profile cases. Check Point Research (CPR) analysts have predicted supply chain cyberattacks with larger ransom demands in the coming year.

CPR, a leading provider of cybersecurity solutions to businesses and governments around the world, made several key predictions for 2022 in its report.

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“In 2021, cybercriminals have adapted their attack strategy to exploit vaccination mandates, elections and the shift to hybrid work, to target organizations’ supply chains and networks for maximum disruption,” said Maya Horowitz, vice president of research at Check Point Software.

Deepfakes will prove to be a huge problem as technology advances enough to create believable sound and video that can be easily militarized to deliver targeted content for disinformation and even to target stock prices.

Hackers will soon attempt to infiltrate more cryptocurrencies by grabbing wallets using new exploits in rapidly developing technology. “When money becomes pure software, the cybersecurity needed to protect against hackers who steal and manipulate Bitcoin and altcoins is sure to change unexpectedly,” the report said.

“Throughout 2021, misinformation has been disseminated about the COVID-19 pandemic and information on vaccination. In 2022, cyber groups will continue to take advantage of fake news campaigns to execute various phishing attacks and scams, ”added CPR.

Digital payment platforms, mobile wallets and unified payment systems (UPIs) have become commonplace for the smartphone-centric individual. The ubiquity of these devices and apps will only help cybercriminals to prey on unsuspecting people who use these platforms.

Seeing the success of ransomware attacks against supply chain organizations, many cybercriminals will focus on targeting these companies. In response, governments will begin to rapidly mobilize response networks to counter, treat and protect their national infrastructure against such attacks.

“The sophistication and scale of cyber attacks will continue to break records and we can expect a dramatic increase in the number of ransomware and mobile attacks. Going forward, organizations must remain aware of the risks and ensure they have the appropriate solutions to prevent, without disrupting the normal business flow, the majority of attacks, including the most advanced. To stay ahead of threats, organizations must be proactive and leave no part of their attack surface unprotected or monitored, or they risk becoming the next victim of sophisticated targeted attacks, ”added Horowitz .

(Edited by : Shoma bhattacharjee)

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