Report Finds Crypto Mining Incidents Have Risen 1000% in 2018

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Report Finds Crypto Mining Incidents Have Risen 1000% in 2018

Post by howlermunkey » Fri Oct 05, 2018 8:00 pm

Cybersecurity company Trend Micro has revealed that between January and July 2018, its researchers detected unauthorized crypto mining attacks – also known as ‘cryptojacking’ – at a rate nearly 1000 percent higher than in the second half of 2017. The information was revealed in the company’s H1 2018 report titled “Unseen Threats, Imminent Losses.”

From Malware to Cryptojacking
One significant insight contained in the report is that cybercriminals who previously favored the use of malware and ransomware to shake down their victims are increasingly looking toward digital coin mining as a new frontier.

A cryptojacking attack, while often escaping detection by network security personnel and users can have debilitating consequences for a network or computer equipment such as increased response time and extreme lags, physical degradation of hardware due to increased workload and overheating, and power usage spikes.

The attack is quite devastating because it makes use of a computer system’s graphics processing capability instead of its processor, which slows down a system’s operating speed with serious effects, particularly for an enterprise level computer operation. ... 0-in-2018/

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