Cybercriminals’ New Tactic: Cryptojacking
Cybercriminals have found a new way to profit from their illegal activities – by remotely hacking servers and devices to mine cryptocurrencies like bitcoin. This practice, known as cryptojacking, has seen a staggering 399% increase globally over the past year, according to a report by SonicWall. The rise in cryptojacking can be attributed to organizations’ refusal to pay ransoms and increased law enforcement activity. SonicWall CEO Bob VanKirk warns that threat actors are becoming more opportunistic, targeting schools, governments, and retail organizations at unprecedented rates.
Key Points:
- Cryptojacking attacks have increased by 399% globally in the past year.
- Cybercriminals are resorting to cryptojacking due to organizations’ refusal to pay ransoms and increased law enforcement activity.
- The UK has seen a 479% increase in cryptojacking attacks, while the US experienced 214 million attacks in 2023 alone.
- Schools, governments, airlines, and enterprises are among the targets of these attacks.
- Cybercriminals and nation-states are accumulating more bitcoin through cryptojacking.
Hot Take:
Cryptojacking has emerged as a lucrative method for cybercriminals to profit from their activities, as organizations become more resistant to paying ransoms. The significant increase in these attacks globally highlights the need for enhanced cybersecurity measures and vigilance. It is crucial for individuals and organizations to implement strong security practices and stay informed about the evolving threat landscape in order to protect themselves from this growing menace.
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