Tuesday April 24, 2018
Home Lead Story Hackers ditch...

Hackers ditch ransomware attacks, move to cryptojacking: Symantec

Mobile users also face privacy risks from grayware apps that are not completely malicious but can be troublesome

0
//
77
Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.
Hackers are usig new techniques to rob users' data and money. Wikimedia Commons
Republish
Reprint
  • Hackers are no more using ransomware attacks
  • They are now cryptojacking
  • India is the second largest Asian country which witness this

When it comes to increased cryptojacking activities, India is second in the Asia-Pacific and Japan (APJ) region and ninth globally as hackers create a highly-profitable, new revenue stream with crypto-mining, cyber security giant Symantec said on Wednesday.

According to Symantec’s “Internet Security Threat Report”, detection of coinminers on endpoint computers increased by a whopping 8,500 per cent in 2017.

cryptocurrency dealer Pluto Exchange on Thursday announced the launch of mobile application for transacting in VC. Wikimedia Commons
Coinmining is taking place in high number. Wikimedia Commons

“Cryptojacking is a rising threat to cyber and personal security,” Tarun Kaura, Director, Enterprise Security Product Management, APJ at Symantec, said in a statement. “The massive profit incentive puts people, devices and organizations at risk of unauthorised coinminers siphoning resources from their systems, further motivating criminals to infiltrate everything from home PCs to giant data centers,” Kaura added.

Cryptojacking is defined as the secret use of a computing device to mine cryptocurrency. With a low barrier of entry cybercriminals are harnessing stolen processing power and cloud CPU usage from consumers and enterprises to mine cryptocurrency. Coinminers can slow devices, overheat batteries and in some cases, render devices unusable. For enterprise organisations, coinminers can put corporate networks at risk of shutdown and inflate cloud CPU usage, adding to the cost.

Also Read: From paper to plastic to Bitcoins: Changing money with time

“Now you could be fighting for resources on your phone, computer or Internet of Things (IoT) device as attackers use them for profit. People need to expand their defenses or they will pay for the price for someone else using their device,” Kaura added.

Symantec found 600 per cent increase in overall IoT attacks in 2017. India today ranks among the top five countries as a source for IoT attacks. The firm also identified a 200 per cent increase in attackers injecting malware implants into the software supply chain in 2017.

Hacking puts a lot of things at risk. VOA

Threats in the mobile space continue to grow year-over-year, including the number of new mobile malware variants which increased by 54 per cent. Mobile users also face privacy risks from grayware apps that are not completely malicious but can be troublesome. Symantec found that 63 per cent of grayware apps leak the device’s phone number.

In 2017, the average ransom cost lowered to $522. “Several cyber criminals may have shifted their focus to coin mining as an alternative to cashing in while cryptocurrency values are high,” the report noted. IANS

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Google’s ‘Chat’ service a gift to cybercriminals: Amnesty

RCS is a communication protocol between mobile-telephone carriers and between phone and carrier

0
//
13
The logo of Google.
Google Chat is gift cybercriminals. Pixabay

Google’s decision to launch a new messaging service called “Chat” without end-to-end encryption shows utter contempt for the privacy of Android users and has handed a precious gift to cybercriminals and government spies alike, Amnesty International has said.

Communications on the new “Chat” service will not be sent over the Internet but through mobile phone carriers, like SMS text messages, according to reports.

Google Chat is becoming more famous.

In a statement to The Verge this week, a Google spokesperson confirmed that the new service will not use end-to-end encryption and that Google is “pausing investment” in its existing mobile messaging app “Allo” which has an option for end-to-end encryption.

“Not only does this shockingly retrograde step leave Google lagging behind its closest competitors — Apple’s iMessage and Facebook’s WhatsApp both have end-to-end encryption in place by default — it is also a step backwards from the company’s previous attempts at online messaging,” Joe Westby, a technology and human rights researcher at Amnesty International, said on Friday.

Also Read: Google Will Take Action If Apps Violate Its Policies

Amnesty International considers end-to-end encryption a minimum requirement for technology companies to ensure that private information in messaging apps stays private. End-to-end encryption is a way of scrambling digital data so that only the sender and recipient can see it.

When it is in place, even the company providing the service is unable to access the content of communications. “Following the revelations by CIA whistleblower Edward Snowden, end-to-end encryption has become recognised as an essential safeguard for protecting people’s privacy when using messaging apps. With this new Chat service, Google shows a staggering failure to respect the human rights of its customers,” Westby said in a statement.

A Google picture.
The Chat is a security threat. VOA

In the wake of the recent Facebook data scandal, Westby said that Google’s decision is not only dangerous but also out of step with current attitudes to data privacy. “Google should immediately scrap it in its current form and instead give its customers a product that protects their privacy,” Westby suggested.

Google is going all in on building the Rich Communication Services (RCS). RCS is a communication protocol between mobile-telephone carriers and between phone and carrier, aiming at replacing SMS messages with a text-message system that is more rich, provide phonebook polling and transmit in-call multimedia. IANS