Bandwidth security against rogue IoT botnets could be the next critical investment priority for the telecommunications sector after a report from NOKIA found that 78 percent of network-based malware detection in CSP networks in 2018 is attributed to IoT botnet activity used in DDoS and crypto-mining activity. This is up a staggering 33 percent from two years ago, confirming that malware is here to stay and growing in complexity.
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The healthcare industry is among the top targets of cyberattacks, especially since the internet of things found its way into the industry and completely revolutionized it. After healthcare’s share of ransomware attacks in 2017, and a great deal of data theft, phishing and more ransomware in 2018, cybercriminals gradually switched methods, tapping into the cryptojacking space.
Recent waves of malicious crypto mining pose new dilemmas in terms of where to draw the line between what is legitimate and what is not. Mining cryptocurrencies has become expensive and coin miners have turned to other people's and companies' devices for resources. As a result, datacenters can and will fall victims to it unless they are prepared to fight off intruders.
Like most groundbreaking inventions, cryptocurrencies bring a moral paradox: while some people consider them a revolutionary tool to make the world a better place, others already use it to fuel their illegal activities. Therefore, it was just a matter of time before this energy-hungry activity became a serious cybersecurity issue.
Cryptomining transactions, seen as a terrific money-making scheme separate from the traditional online advertising, are growing faster than ever, concluded security researchers after 2.5 billion attacks were blocked in enterprise networks in the past six months.
Bitdefender telemetry revealed that from September 2017 until February 2018, ransomware reports have followed a descending curve, while coin miner reports have increased by 130 percent by January 2018. Interestingly, cryptojacking is currently one of the fastest spreading cyber threats, already outranking ransomware’s exposure by a factor of 1 to 100 according to Bitdefender’s intelligence, and is recently displaying targeted behavior, by leveraging fileless techniques and exploits to infiltrate organizations and spread laterally.
In 2017, global spending on cybersecurity totaled about $86.4 billion, while in 2018 businesses will reportedly spend $93 billion, according to estimations from Gartner.