The role of crypto-currency in cybercrime

The first crypto-currency appeared in 2009 when Bitcoin was born. Since then, numerous others have entered the market. The market for crypto-currencies has been incredibly volatile and, at its peak in 2017, one bitcoin was worth over $11,200, although it is now suffering from sustained losses in 2018. 1, 2 These peaks and troughs have made crypto-currency value a popular media topic and hackers too have taken notice. The market for crypto-currencies has been incredibly volatile and these peaks and troughs have made crypto-currency value a popular media topic. Hackers, too, have taken notice. We have seen a recent sharp rise in crypto-jacking attacks, exploiting the power of victims' computers to mine crypto-currency. And alternative currencies also play a major role in ransomware attacks, being the payment method of choice. The chief defence, says Aaron Higbee of Cofense, is education. Phishing is a key element in these attacks and businesses need to help their employees to spot phishing attacks.