Cryptocurrency Scams, Hacktivism Will Rise in 2022: Norton

Norton says that the rise in casual investors who do not fully understand the nuances of how cryptocurrencies work will enable scammers to take advantage of it.

Cryptocurrency Scams, Hacktivism Will Rise in 2022: Norton

Norton predicts cybercriminals might carry out phishing campaigns to steal login credentials

Highlights
  • In 2022, scammers will continue to exploit disaster struck users
  • Norton predicts that AI and machine learning will increase cybercrimes
  • Criminals will use deepfake technologies to conduct scams

Norton claims that cyber activism will gain momentum next year, and crypto scams are likely to increase as more users buy in. Furthermore, the cybersecurity firm predicts that scammers will target people suffering through natural disasters. Norton warns that 2022 will see more hacking, more scammers, and a bigger need for online security. The next year is likely to see more casual investors in the cryptocurrency market, hinting at more scams in the segment. Phishing campaigns to steal users' login credentials or tech support scams to separate people from their money will likely see a rise.

Cybersecurity predictions for the next year have been listed out by Norton. At the top, the firm predicts a rise in cryptocurrency scams as several countries look to regulate it. The rise in casual investors who do not fully understand the nuances of how cryptocurrencies work will enable scammers to take advantage of it. “Scammers have been using those misunderstandings to separate people from their coins, and with this new set of new users, we expect a big increase in the number of scams out there. They will likely look like some of the old scams, but also, we expect to see new and creative attempts to target this new, larger set of potential victims,” the company notes.

Norton also says that the need to go online during the pandemic and having all identity documents online may cause theft, stealing of identity, and other scams. The firm also predicts that cybercriminals might carry out phishing campaigns to steal login credentials or tech support scams to separate people from their money. While most attacks are for money, some bend towards using cyber intrusion as a form of protest.

The company adds that hacker activists, or hacktivists, will use their knowledge to achieve political outcomes. They do this by disrupting governments, spreading fear, or bringing some information to light. Hacktivism and cyber terrorism were alive and well in 2021, revealing information governments would have preferred to keep secret. Norton expects to see these attacks continue, if not increase, given their reach and potential influence.

In 2022, Scammers will continue to exploit disaster struck users. Norton says that whenever there is money flowing from insurance companies or the government to the victims of natural disasters, there is someone who will try to exploit that situation, either by committing fraud with stolen identities or scamming people directly. If the trend continues, and there are more and more natural disasters and extreme weather events, Norton expects to see more scammers ready to cash in.

Lastly, Norton predicts that artificial intelligence and machine learning will increase cybercrimes. It will allow users to manipulate some forms of media and extract value from large datasets. It predicts that as deepfake technology gets better and easier to use, it will become a useful tool for criminals, scammers, stalkers, and activists.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article

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Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to tasneema@ndtv.com. More
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