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Report: Most Malware Detected in the Philippines are Related to Cryptomining

Photo for the Article - Report: Most Malware Detected in the Philippines are Related to Cryptomining

The Philippines is the 9th most attacked country globally according to security firm Kaspersky Lab. Most of the attacks are related to cryptomining.

Data sent by Kaspersky Lab revealed 10.6 million web malware infections in the Philippines for the 2nd quarter of 2018. This is twice the number from the 1st quarter (5.6 million) and a massive increase from the same quarter last year.

This makes the Philippines as the 9th most attacked online globally, up from last year where we are at the 44th spot.

39% of that number are attacks against home users and 11% are against business users.

According to Kaspersky Lab, cryptomining-related malware spiked during the quarter. Most of which are web attacks like browser extension-related threats.

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Cryptomining is a new type of malware that deliberately uses the person’s computer’s resources to mine a cryptocurrency, without the owner’s knowledge.

75% of the threats are detected to come from sites based in western countries, with the US leading at 51%.

BitPinas previously reported that cryptomining has become the most popular malware activity compared to the likes of ransomware. Security firm McAfee noted that this is probably because monetizing computer infections without the user’s consent is easier than any other forms of ransomware. Also, there’s minimal effort involved and that it has the least risk of discovery.

Lastly, getting paid in cryptocurrency means there is no banking trail for financial institutions.

Cryptomining can also happen to the person’s computer if they visited an infected website. These infected websites usually have a Javascript called Coinhive that will use the computer’s resource to mine the cryptocurrency Monero, dubbed the private crypto.

Kaspersky said that while the Philippine government has started to enforced laws, what is important is for internet users in the country to be concerned and aware of online security.

Negligence is one of the most cited reasons why a person’s computer gets infected. The Manila Bulletin noted of the Bangladesh Bank heist where the malware is initially planted on a website that a bank employee visited by using one of the bank’s computer.

Kaspersky recommended keeping apps and software updated at all time and to exercise vigilance whenever following a url online, like avoiding opening email attachments from people you don’t know or downloading from untrustworthy sites.

Source: Kaspersky via Manila Bulletin, Business World