Crypto-currencies and Cybercrime Abstract

TRENDS IN CYBERCRIME 0
Crypto-currencies and
Cybercrime

TRENDS IN CYBERCRIME 1
Abstract
Cryptocurrency is an internet-based medium of exchange that utilizes the
features of cryptography in order to perform financial transactions.
Cybercrime is a computer crime that includes computing networks for
obtaining private data of the companies. Most of the criminals perform
cyber crimes in the companies and collect money in the form of
cryptocurrencies. The purpose of this investigation is to find malware
programs used by the criminals to gather cryptocurrencies and examine
mitigation techniques towards the privacy of data. This paper shows the
depth examination in the relation of cryptocurrencies and cybercrimes. It is
found that crypto locker, ransomware, and spyware all these are major
malware programs used by the criminals to obtain cryptocurrencies from
the companies. Therefore, it is recommended that companies should use
two-factor authentications, implement security policies and adopt
cryptography tools for protecting data against cybercrimes.

TRENDS IN CYBERCRIME 2
Table of Contents
Introduction................................................................................................................ 3
Research question................................................................................................... 3
Research aims and objectives.................................................................................3
Aim....................................................................................................................... 3
Objectives............................................................................................................ 3
Analysis of the related works...................................................................................... 4
Crypto currency and cybercrime............................................................................. 4
The malware used by the criminals to obtain crypto currencies.............................4
Crypto locker........................................................................................................ 4
Ransomware........................................................................................................ 5
Rootkit.................................................................................................................. 5
Spyware............................................................................................................... 5
Vulnerabilities exploited by cybercrimes.................................................................6
Susceptibility of crypto currency exchanges to phishing.....................................6
Missing hot wallet protection...............................................................................6
Data breaches...................................................................................................... 7
Transaction vulnerabilities................................................................................... 7
Mitigation techniques.............................................................................................. 7
Identify the threats.............................................................................................. 7
Use two-factor authentication.............................................................................. 8
Provide training and education............................................................................8
Ensure a strong sign off policy............................................................................. 8
Use firewall and cryptography tools.....................................................................9
Discussion.................................................................................................................. 9
Conclusion.................................................................................................................. 9
References............................................................................................................... 11

TRENDS IN CYBERCRIME 3
Introduction
A crypto currency is defined as a digital asset developed to work as a
medium of exchange that mainly includes an effective cryptography process
in order to secure financial transactions and verify the transfer of assets. In
this generation, the use of crypto currency is enhancing rapidly and most of
the hackers receive money from victims in the relation of crypto currency
(Ahn, et al., 2016). It is argued that the key feature of crypto currency is
that it is not handled by any central authority due to which hackers used for
performing cyber-crimes and attacks in the companies. This research will
focus on the crypto currency and cybercrimes and identify the effective
mitigation techniques for cybercrimes. It is identified that cybercrime refers
to the computer crime that mainly utilizes the computing network as an
instrument to further perform illegal activities including data breach and
frauds.
Research question
What malware, e.g., Crypto locker has been used by cybercriminals to
obtain cryptocurrencies, which vulnerabilities did they exploit and what
mitigation can be adopted against them?
Research aims and objectives
Aim
To determine what kinds of malware approaches used to obtain
cryptocurrencies and how to mitigate vulnerabilities exploited by the
criminals
Objectives
 To understand the concept behind the crypto currency and
cybercrime
 To examine types of malware used by the hackers to obtain crypto
currencies