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New Domain Names Fuel Cybercrime Surge, Experts Warn

New research has highlighted a concerning trend in cybercrime involving the misuse of new domain names, such as .shop and .xyz, for malicious activities. The Cybercrime Supply Chain 2024 report, conducted by Interisle Consulting Group researchers, analyzed 16 million cybercrime events and found that these generic top-level domains (gTLDs) are disproportionately used for cybercrime despite constituting only a fraction of the domain market.

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According to the report, while new gTLDs represent just 11% of the total domain market, they account for a significant 37% of cybercrime domains. In contrast, more established domains like .com, .net, and .org, which make up over half of the domain market, contribute to just over 40% of cybercrime domains. This stark contrast underscores the appeal of these new gTLDs to cybercriminals.

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The attraction of these new gTLDs lies in their affordability and ease of registration. Some of these domains offer registration for as little as $1 or $2, making them an attractive option for cybercriminals looking to quickly set up malicious websites without incurring significant costs. This accessibility enables cybercriminals to create fake websites, phishing landing pages, and other deceptive online properties to carry out their illicit activities.

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Phishing attacks, in particular, have seen a notable surge, with Krebs on Security reporting a nearly 40% increase in such attacks up to August 2024. The low barrier to entry presented by new gTLDs facilitates the proliferation of phishing campaigns, which can result in substantial financial losses for victims. As cybercriminals continue to exploit these domains, the threat landscape is expected to evolve, with the potential for more sophisticated and damaging cyberattacks.

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Industry experts caution that the rise of cybercrime using new domain names underscores the importance of vigilance and proactive security measures. Organizations and individuals are advised to stay informed about emerging threats, deploy robust cybersecurity solutions, and exercise caution when interacting with unfamiliar websites or online communications.

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As the digital landscape evolves and cyber threats become increasingly sophisticated, the role of domain name security in safeguarding against cybercrime cannot be overstated. By understanding the risks associated with new gTLDs and adopting best practices for online security, individuals and businesses can better protect themselves from falling victim to malicious activities conducted through these domains.

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Looking ahead, it is crucial for domain registrars, cybersecurity professionals, and regulatory bodies to collaborate in addressing the misuse of new gTLDs for cybercrime. By implementing stringent registration processes, monitoring suspicious activities, and enhancing cybersecurity awareness, stakeholders can work together to mitigate the risks posed by malicious actors leveraging these domains for illicit purposes.

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