Opening speech during a meeting of the House of Representatives of the United States Regarding illegal digital activities, the representative and chairman of the Emanuel Cleaver (D-MO) subcommittee stated a significant increase in cybercrime in 2020.
“We see one 75% more daily cybercrime, According to FBI reports since the pandemic started, “Cleavor said in his opening speech at the virtual hearing on June 16. before the Subcommittee on National Security, International Development and Monetary Policy.
Recent attacks on certain sectors discussed
After the preventive measures of COVID-19 caused the closure of businesses in mid-March, Many companies tried to work remotely. When a large number of people became present on the web, hackers became They saw more opportunities. Amid a new need for virtual meetings, for example, The popular zoom video conferencing platform suffered from widespread data leaks.
VMware’s primary cyber security strategy, Tom Kellermann asked for comments as a witness to the meeting and highlighted the financial industry a 238% increase in digital crime between January and May 2020. “This is composed by 900% more ransomware attacks“he added.
Kellermann observed a connection with crypto
After pointing out different ways, the gangs they took advantage of the victims Kellerman talked about increased attacks and Data leak during crypto exchange. He also stated that these media are used for money laundering, along with crimes in the deep web and anonymous digital assets.
“Darknet forums activated by anonymous virtual currencies have created a nest for Cybercriminals and Organized Crime Reach Global Market “Kellerman also said and mentioned “extremist organizations”.
The Cyber Security Manager at VMware added:
“Many of the cryptocurrency payment systems offer real or relative anonymity. This requires stronger regulation of digital money. “
In combination with a number of other points Kellermann proposed further regulatory measures as a possible solution, Mention of several proposed regulatory measures.
Depending on the source of purchase, transactions in Bitcoin usually require a pseudonym. In most cases, however The public can track Bitcoin more easily than cash. Even if Kellermann highlighted digital assets for their anonymity, Many assets create traceability. Anonymous cryptocurrencies, such as Monero and Zcash promote additional functions focused on privacy, but was often misunderstood. research