IntSights analysts found sophisticated and systematic operations working to steal personal information of individuals from Latin America, such as bankers and retailers and they either sell the information online to the highest bidder or use it further to dig more data. These hacks and data gathering operations are quite profitable and remunerative for Venezuelans, as they sell it for cryptocurrency like Bitcoin, a better alternative to the drowning national currency-Venezuelan bolivar.
Venezuela, once amongst the richest countries in Latin America, with large oil reserves and gold mines has now become a mere shell of its former self as decades of corruption and socialist rule have plunged the economy. The political condition of the country is also severe as there have been ongoing protests and rebels against President Nicolás Maduro from last year. This hyperinflation in Venezuela has caused a deterioration in the national currency and thus citizens have turned to cryptocurrency.
The International Monetary Fund says inflation of the Venezuelan bolivar, the country’s currency, is expected to hit a startling 200,000 percent this year. A cup of coffee that cost 150 bolivars in November 2018 now costs 18,000 bolivars, according to Bloomberg (Quoting nbcnews).
These hackers are based in Venezuela and neighbouring countries like Colombia and they don't seem to be hiding unlike experienced hackers from Russia and China. Information about the ope ..
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