Threats related to cryptocurrency have followed prices, decreasing significantly after the market slump in May, suggests a recent report released by a leading internet security firm. Detections fell by almost a quarter but Russia remains the most affected country, with the U.S. ranking in the top three as well.

ESET: 1 in 10 Crypto-Focused Threats Detected in Russia

Software threats in the crypto space, mining malware in particular, are quite dependent on developments in the cryptocurrency market, cybersecurity company ESET has concluded in its Threat Report T2 2021. However, the drop in cybercriminal activity surrounding cryptocurrencies “does not mean that all was quiet,” note the authors of the study, covering the second third of the year, and add:

Cryptocurrency investments scams, in which con artists lure their unsuspecting victims to fake investment websites or impersonate government authorities and even celebrities, are more popular than ever.

Victims lost at least $80 million to this type of scam in only a few months since October 2020, the U.S. Federal Trade Commission announced in May. Meanwhile, a single crypto Ponzi scheme in Russia, Finiko, received more than half of the $800 million in crypto funds sent from Eastern Europe to scam addresses, blockchain forensics firm Chainalysis revealed in a preview of its latest Geography of Cryptocurrency report.

Source: ESET

Nevertheless, ESET’s detections of all crypto-related threats in T2, 2021 have…

Read more…