Microsoft States That Cryptocurrency Cybercriminals Are Still At Large, Despite The Currency Losing Its Value

A new Microsoft report reveals that despite cryptocurrency being depreciated at a record pace, cybercriminals still utilize the economy as a part of their scams.

So, cryptocurrency and NFTs took a massive nosedive, and now I’d like everyone to repeat after me: oh no, who could have seen that coming? A currency that is entirely built upon the online arbitrary worth that’s decided by a severely limited group of individuals as opposed to a worldwide marketplace? There’s absolutely no way that this could have led to pyramid schemes, money laundering, or any other negative verb associated with finance. But no, I guess Chet from Florida Virtual School had gotten his sources right this time, guys, I swear he knows what he’s talking about man. Honestly, I’d rather we just move away from the fad of meme-inspired coins and ugly-looking mini-artwork as soon as possible. Cryptocurrency is a ridiculously harmful medium, and a bunch of dude-bros attempting to upsell others on the concept isn’t going to change my mind. However, it seems that the average cybercriminal and online scammer hasn’t gotten the notice as of yet.

Microsoft published a blog post where it revealed that the Windows anti-virus software has caught hundreds of thousands worth of cybercriminals attempting to steal or scam individuals out of cryptocurrency. The post further warns individuals that these scammers have been consistently attacking virtual wallets, mining them for crypto, and sending the collected amount to their wallets. I assume these individuals think that either way, victory’s in their hands. They get the currency for essentially free, and the crypto-hackers (as such online criminals are often referred to) can sit on it for as long as they’d like. This way, they play both odds of crypto suddenly rising in popularity, or falling, and win either way.
It’s a major crime to steal from anyone’s wallet, no matter how virtual the substance is or how devalued the currency is. Unless, of course, the dude’s named Chet and studies business at some prestige college his father got him into; then go on ahead as you please, cybercriminals. Steps, as always, can be taken to hide from or dissuade them (i.e. identifying phishing attempts, anti-virus software, Trojan scanners). However, a bit of me is impressed by these criminals and their consistent attempts at utilizing free time to hustle for a currency that’s been severely compromised. I should note that this feeling is much akin to someone throwing petrol onto a fire to burn it out. It’s a dumb waste of time, but man, am I impressed.

Read next: 40% of Business Executives Are Worried About Getting Hacked, But Will They Do Anything About It?
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