Sunday December 16, 2018
Home Lead Story Quick Heal: C...

Quick Heal: Cryptojacking Emerging as Alternative to Ransomware

As more cybercriminals leverage cryptojacking as a lucrative channel of generating illicit revenues, Quick Heal Security Labs researchers expect these numbers to grow even further

0
//
Quick Heal: Cryptojacking Emerging as Alternative to Ransomware
Quick Heal: Cryptojacking Emerging as Alternative to Ransomware. (IANS)
Republish
Reprint

With more than three million hits globally in the first five months of this year, cryptojacking, a form of cyber-attack in which hackers hijack the infected system’s processing power to mine cryptocurrency, is fast emerging as an alternative to ransomware, according to IT security firm Quick Heal.

The number of mobile cryptojacking malware variants has also grown from eight in 2017 to 25 by May 2018, marking a three-fold increase, Quick Heal said in a statement on Monday.

“Cryptojacking is emerging as a more cost-effective and efficient alternative to ransomware. With a ransomware attack, there is no guarantee that hackers will be paid a ransom,” said Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technologies.

“Cryptojacking, on the other hand, is empowering hackers to make use of infected endpoints for swifter and more assured financial gains,” Katkar said.

As more cybercriminals leverage cryptojacking as a lucrative channel of generating illicit revenues, Quick Heal Security Labs researchers expect these numbers to grow even further.

Quick heal
Quick Heal.

As opposed to ransomware, cryptojacking attacks remain almost undetected, enabling attackers to use the compromised systems to mine cryptocurrencies for as long as they want.

They are also easier to deploy than ransomware attacks. All a hacker needs to do is to drop a cryptomining code on your system without your knowledge through an infected link or file.

Another commonly used method is to infect websites and pop-up ads with a JavaScript-based cryptomining script, which is triggered when you click on infected ads or visit compromised websites.

Also Read: New HP Pavilion ‘x360’ With Pen Now in India

In such instances, attackers do not even need to install a code; just opening the infected link is enough to turn your system into a cryptomining machine and generate instant returns on investment for the hacker, Quick Heal said.

System owners to deploy a robust security solution as a means of combating cryptojacking attacks, it added. (IANS)

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Symantec Introduces ‘Email Threat Isolation ‘Technology to Block Email Attacks

The technology works by creating a secure remote execution environment between users and malicious content

0
Symantec
Symantec. (IANS)

Cybersecurity giant Symantec Corp on Wednesday introduced a new solution based on threat isolation technology which blocks advanced email attacks on end user devices.

Named “Email Threat Isolation”, the solution helps protect users against spear phishing, credential theft, account takeover and ransomware attacks, the company said in a statement.

The email security solution with integrated threat isolation technology is designed to protect customers from the kind of sophisticated email attacks that have become more prevalent in the Cloud generation.

“Despite significant efforts by our industry to detect and block email-borne threats, messaging remains the primary vector for malware and scams within the enterprise,” said Greg Clark, Symantec CEO.

Threat Isolation Technology
Symantec Introduces Email Threat Isolation Technology. Flickr

“This revolutionary technology helps enterprises to quickly and easily isolate all malicious email content — both internal and external — to substantially reduce inherent risks within messaging applications,” Clark said.

The technology works by creating a secure remote execution environment between users and malicious content.

It sends web traffic from suspicious links to this remote environment, which confines all malicious activity, and only sends a safe visual representation of the content down to the user.

In addition, this solution can render such sites in read-only mode which prevents unsuspecting employees from disclosing sensitive information such as corporate credentials, according to Symantec.

Also Read-India Among Nations Most Prone To Cyber Attacks

“Further, because the technology is Cloud-based, organisations can be up and running quickly and easily, reducing stress on already taxed IT teams,” Clark added. (IANS)