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November 29, 2018 at 05:12
| updated:
29 November 2018 at 06: 07 & nbspUTC
According to a new report by computer security company Kaspersky, malware has become increasingly encrypted and easy to create. Even worse, malicious programs are not detected on PCs at home or at work.
The company's annual safety bulletin expressed concern this year for the rise of new mining technologies. Hackers are investing more time and resources for cryptojacking programs and, as such, they are replacing "traditional" ransomware Trojan horses.
This happens at a time when cryptocurrency is on the verge of a breakthrough in worldwide adoption, with countries starting to establish legal structures, introducing their digital currencies and even using Blockchain in their systems in some cases. Successful attacks can expose cracks in the safety of cryptocurrencies and reduce trust in them.
Kaspersky noted that hackers are gradually moving away from ransomware and DDoS attacks to cryptography because there is less competition there. An untapped market, or so to speak. It is also convenient that people are less likely to report cryptic to the authorities.
Cryptomining is also appealing to hackers due to its profitable nature. Although there are moments of calm when prices fall, currencies such as Monero have reported that they have five per cent of their money generated by illicit mining. It is estimated that $ 175 million was earned by hackers only by Monero in this way. Monero is popular among hackers for his anonymity and the liquidity of his coins.
Kaspersky's report states that the decline of DDoS attacks could be due to the "reprofiling" of botnets from DDoS attacks to cryptocurrency mining. "
The easy availability of open mining pools and miners' builders has made life easy for hackers who try to illegally extract cryptocurrency. It is becoming increasingly difficult to track and identify them. The report states,
"It may be a little while before the user notices that 70-80% of the CPU or graphics card power is used to generate virtual coins."
The report also found that such attacks are more widespread in Europe than in the United States, where cryptocurrency laws are more rigidly defined. The United States faces only 1.3% of all attacks. Regions, where laws related to digital information and software not licensed are not regulated, are those in which these hackers thrive. For example, Vietnam accounts for 13% of all attacks, even though cryptocurrency traffic is illegal in the country.
Read also: Crypto Miners Overtake Ransomware
Debarun Gupta
Debarun is currently pursuing a degree in economics and writing when he is not watching cat videos on YouTube.
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