Record in cryptocurrency ransom payments!

According to a report by the US-based blockchain analysis firm Chainalysis, cryptocurrency-related ransom payments nearly doubled in 2023, reaching 1 billion dollars and setting a record. Ransomware is known as a cyberattack technique that prevents users from accessing their systems or personal files and demands a ransom payment for the user to regain access. In 2022, the amount of cryptocurrency collected by scammers through ransomware attacks, which primarily targeted hospitals, schools, and government institutions, was 567 million dollars.

However, according to a Reuters report, losses from hacks or fraud involving cryptocurrency decreased in 2023.

The growing interest in cryptocurrency markets has also recently been reflected in the market value of Bitcoin. The price of Bitcoin is trading above 45 thousand dollars, driven by an increase in risk appetite in global markets and continued interest in spot Bitcoin exchange-traded funds (ETFs). Yesterday, Bitcoin's daily gain exceeded 5 percent. Bitcoin, the largest cryptocurrency, has gained 60 percent in value since September. Furthermore, expectations that global central banks will begin cutting interest rates are also playing a role, which is increasing risk appetite in the markets.

According to Chainalysis, a group called "cl0p," which compromised the file-sharing software MOVEit, collected 100 million dollars in ransom payments. Many organizations and government agencies, including energy giant Shell, had announced that they were subjected to cybersecurity attacks due to the breach of the software known as MOVEit, which enables the sharing of sensitive information.

News Source: BBC