Crypto Crash Rattles Cybercriminals, Pushing Them Beyond Ransomware


An image of someone holding a crypto coin against a backdrop of a chart showing a plunge in crypto prices.

The collapse of cryptocurrencies is rippling through the world of ransomware, security researchers say, even though bitcoin, ether and other digital tokens remain the payment of choice for cybercriminals locking up corporate computer systems.

Over the past few months, the value of cryptocurrencies has plummeted amid rising inflation, economic shocks caused by the war in Ukraine and falling global stock markets. Hundreds of billions of dollars in value has been wiped out over that period, which is starting to be known as crypto winter. On one day alone, more than $200 billion in value was wiped from the broad crypto market.

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