Kaspersky Forecasts Increased Monero (XMR) Usage By Hackers in 2021

The world’s leading cybersecurity technology, Kaspersky has released its predictions on financial attacks and cyber crimes that tend to occur in 2021.

It has been the custom of Kaspersky being popularly recognized for its comprehensive portfolio of security solutions and services, to make yearly forecasts on Cyberthreats to financial organization.

The company’s newly released forecast on 2021 cyber threats predicts an increased usage of Monero (XMR) by hackers in the coming year.

The crypto community had experienced a number of cybercrimes by hackers via the use of Monero (XMR). Just at the start of 2020, a group of cryptocurrency hackers called “outlaw” was reported to have resumed their criminal activities with more advanced and upgraded toolsets.

These toolsets were designed to kill existing mining software while hijacking computer powers to mine privacy-focused coins, Monero (XMR).

According to Kaspersky, it can foresee more manipulated use of Monero (XMR) because the crypto industry has stepped up and has currently put exceptional technical capabilities of monitoring, deanonymization, and seizing BTC accounts in place.

As a result, cybercriminals will begin to consider switching to transit cryptocurrencies for charging victims. This can only mean there is every reason hackers would want to switch to other privacy-enhanced currencies, such as Monero.

They may use XMR first as a transition currency and then convert the funds to any other cryptocurrency they want, such as Bitcoin and the likes, as predicted by Kaspersky.

Alongside the 2021 forecast, the company also made reference to its previous predictions on the current year, which ended up coming into reality. It cited several financial attacks it forecasted in 2020, and some of them became a real event in the said year.

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