Five ways the cybercrime industry is changing due to COVID-19

As the world is headed towards a coronavirus-induced recession, the cybercrime industry is alive and kicking.

Malicious actors are capitalising not only on the changes in supply and demand but also on people’s fears.

The following five trends appear to be having an upward swing.

  1. Cybercriminal merchants are looking for exposure

There is an increase in advertising products such as phishing kits, counterfeit treasury checks and fraud schemes.

In the past, these vendors mostly stuck to selling on a single dark web marketplace only.

Now, they are looking to widen their exposure by posting in numerous destinations, even if it comes at the expense of their reputation.

  1. Ransomware is in high demand

Since the lockdowns began in March, ransomware references on the dark web have increased by an estimated 50% compared to the previous three months.

According to Charity Wright, cyber threat intelligence analyst at IntSights, RaaS is a growing trend and ransomware appears to be spreading via false COVID-19 sites.

  1. Stolen Zoom credentials are a popular commodity

Since people are forced to remain at home, malicious actors are interested in video conferencing app credentials of various kinds.

Although people are working from home, their computers tend to be less secure than those in a typical office setting.

According to Cyble, the going rate for Zoom accounts was $0.0020 per account in April.

  1. Phishing and fraud kits are selling like hotcakes

In times of crisis, cybercriminals are harvesting user credentials through fake promises of infection statistics, cures and similar.

Phishing kits are the tools for the job, and it is possible to obtain one for $3 to $25.

  1. Cryptocurrency takes the lead in favour of cash transactions

Unfortunately, this also means more crypto-related malware and scams.

Cryptomining malware is once again a hot topic.