Why hackers are abandoning bitcoin: the reasons why

Cybersecurity experts have identified the main reason why hackers are abandoning bitcoin thefts is the growing awareness of users about fraudulent schemes. Regulation of the cryptocurrency industry and tracking technologies prevent criminals from conducting transactions with digital assets without hindrance. That is why ransomware has started to use BTC less often.

Analysts noted that as the number of cryptocurrency frauds has increased, users' awareness of hacker schemes and ransomware has also increased, which has made the task of criminals much more difficult and has had a positive impact on the security of the crypto industry.

Currently, fraudsters are using initial coin offerings (ICOs) and non-fungible tokens (NFTs) to deceive users. This trend will continue in the future, according to cybersecurity experts. They also believe that hacking of smart contracts will become more frequent, and hackers will shift from thefts aimed at financial gain to information theft.

In early November, analysts found out that hacking user passwords is the most popular method of hacker attacks — anyone can become a victim. According to the Microsoft Digital Defense Report 2022, about 1,000 cyberattacks involving password theft occur every second.