TOP > News > Symantec: Cryptojacking threats up by 8,500%
August 2, 2018 Updated

Symantec reported an increase in cryptojacking incidents by 8,500% as cryptocurrency prices went highly volatile by the end of 2017.



Symantec, a security products provider, reported an increase in cryptojacking incidents by 8,500% as cryptocurrency prices went highly volatile by the end of 2017.

Cryptojacking

Cryptojacking is cryptocurrency mining without the user’s consent. Cybercriminals stealthily make use of the victim’s computer’s computing power to mine for cryptocurrency. The affected user’s computer will consume more electricity and it will also affect its performance.

“Cryptojacking is a rising threat to cyber and personal security, … The massive profit incentive puts people, devices, and organizations at risk of unauthorized coin miners siphoning resources from their systems, further motivating criminals to infiltrate everything from home PCs to giant data centers,” – Mr. David Rajoo, Director for Systems Engineering in Malaysia, Indonesia, and the Philippines, Symantec

Symantec also stated in its report that cybercriminals are focusing more on cryptojacking but still operating ransomware. It is said that ransomware variants increased only by 45%, meaning these cybercriminal groups are becoming less innovative but still productive.

Other Type of Attacks

Aside from cryptojacking, Symantec also identified different types of cybercrimes in its report. It includes:

  • Spear Phishing – criminals sending targeted emails to steal information from unknowing respondents
  • Malware in Software Supply Chain – where criminals plant a malware in an otherwise legitimate software
  • Mobile Malware – Usually mobile malware victims faces privacy risks. Symantec reported that it blocked an average 24,000 malicious mobile apps in 2017 each day.

Precautions

One of the easiest ways to get your information is by email. Make sure that before you send any information online via email or even in a website, they are secured. Another way they get your mobile or computers is from APKs or from downloading programs via torrents. Don’t forget to download the latest update of your anti-virus to stay protected.

Source: Symantec, Rappler



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