The End of Cyber Crime with Web 3? Will Bad Actors Get the Memo?
October 17, 2022
My understanding of cyber crime is limited. I have done some research and learned one important thing:
Cat and mouse.
What’s this mean?
- Law enforcement take down Dark Web eCommerce sites
- Bad actors use end to end encrypted messaging to sell content to their customers
- Law enforcement take down E2EE schemes
- Bad actors create new types of messaging such as the little known lucidchat.co.uk service to thwart law enforcement.
What’s the end game? A China-style total network control approach like the one described in the Wall Street Journal story “Chinese Users Lose Access to WeChat” on October 15, 2022?
There is no way to stop cyber crime. Sorry, but the cat-and-mouse game exploits:
- Software and systems which have unknown flaws which bad actors seek and exploit
- Law enforcement and cyber security companies react to the bad actors
- Government bureaucracy slows some reactions giving bad actors a window of opportunity
- Insiders stand ready to be blackmailed, bribed, or threatened unless these individuals provide access
- A mismatch between the mental state of an employee and the corporation itself create whistle blowers like a certain American now residing in Moscow, doing significant damage to the United States.
- Big companies’ carelessness creates opportunities which span years; for example, hypervisor’s impaired vision with regard to Windows drivers.
When I read “Web3 Will Spell the End of Cybercrime. Here’s Why,” I hoped that the write up would provide an answer to the points I just shared about cats and mice. The write up states that two things will be much better when a Web 3 architecture is implemented:
- Log in security
- Financial control and monetization.
Say what? Will these new systems be flawless, a condition that is difficult for a software and systems company to deliver. Will insider threats just go away? Will the mice chew away at next generation systems and find a way to penetrate them?
Sorry. Web 3 may lessen certain types of cyber crime, but I wager that a humanoid somewhere will click on a phishing link or a mother desperate to pay for medical care for a child will listen to a bad actor’s pitch for access to a system.
How will Web 3 deal with these persistent security issues?
Stephen E Arnold, October 17, 2022
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