Kaspersky survey: 70% of UAE users are affected by cryptocurrency cybercrime

Yet only 23% are fairly aware of crypto risks.

According to a survey conducted by Kaspersky, only 33% of respondents felt knowledgeable about the potential cyberthreats associated with cryptocurrency. Unfortunately, 11% of respondents reported having no information on the topic. The results showed that half of those surveyed had fallen victim to cryptocurrency crime in some capacity. Furthermore, 55% of cryptocurrency owners did not believe existing protection systems were adequate.

Are users familiar with cryptocurrency threats?

A recent survey reveals that many people are not aware of the dangers posed to cryptocurrency owners. Despite the growing popularity of cryptocurrency, only 33% of those surveyed felt they were fully informed about the risks associated with it, while 11% reported having no knowledge at all. Awareness of these dangers decreases with age, with younger individuals under 35 being more informed. The most commonly cited negative aspects of using cryptocurrency were cyber threats such as virtual theft and scams, which were identified by 34% and 24% of respondents in the UAE, respectively. Surprisingly, 36% of respondents were unaware that they could become a target of crypto threats, even if they do not own cryptocurrency. It's important to note that anyone can be targeted by cryptominers – programs that covertly generate cryptocurrency for their operators using the resources of other computers, regardless of whether they own cryptocurrency or not.

Threats concerns vary by region

The major concerns in the United Arab Emirates and Saudi Arabia are crypto-investment fraud (70% and 73%, respectively), and fake crypto-currency apps in the UAE at (71%), as well as fake crypto-exchanges (86%) in Saudi Arabia.

Does cryptocurrency need more protection?

According to the survey results, 70% of all participants have encountered cryptocurrency-related crime in one form or another, highlighting the prevalent nature of criminal acts in this sector. Furthermore, a significant proportion of 55% did not trust the current measures in place to safeguard cryptocurrencies, and 41% of cryptocurrency owners in the UAE considered these measures to be inadequate.

To maximize the benefits of using cryptocurrency safely, Kaspersky experts also recommend:

• Use strong and unique passwords: creating strong and unique passwords for each of your crypto accounts can help prevent password cracking and brute force attacks.
• Avoid phishing attacks: phishing attacks are attempts to trick you into revealing your login credentials or personal information. Be wary of suspicious emails or links, and always double-check the URL before entering your login information.
• Don't share your private keys: your private keys unlock your cryptocurrency wallet. Keep them private and never share them with anyone.
• Educate yourself: stay informed about the latest cyber threats and best practices to keep your cryptocurrency safe. The more you know about protecting yourself, the better equipped you'll be to prevent cyber-attacks.
• Use security solutions: a reliable security solution will protect your devices from various types of threats.