Cyber criminals are rapidly adding cryptojacking to their arsenal and creating a highly profitable new revenue stream, as the ransomware market becomes overpriced and overcrowded, according to Symantec’s (Nasdaq: SYMC) Internet Security Threat Report (ISTR), Volume 23, released today.

 

“Cryptojacking is a rising threat to cyber and personal security,” said David Rajoo, Director, Systems Engineering, Malaysia, Indonesia & Philippines, Symantec “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.”

 

Symantec’s ISTR provides a comprehensive view of the threat landscape, including insights into global threat activity, cyber criminal trends and motivations for attackers. The report analyzes data from the Symantec Global Intelligence Network™, the largest civilian threat collection network in the world, records events from 126.5 million attack sensors worldwide, and monitors threat activities in over 157 countries and territories. Key highlights include:

 

Cryptojacking Attacks Explode by 8,500 Percent
During the past year, an astronomical rise in cryptocurrency values triggered a cryptojacking gold rush with cyber criminals attempting to cash in on a volatile market. Detections of coinminers on endpoint computers increased by 8,500 percent in 2017. Philippines ranks 11th in the Asia-Pacific Japan (APJ) region, 35th globally in terms of crypto mining activities.

 

With a low barrier of entry – only requiring a couple lines of code to operate – cyber criminals are harnessing stolen processing power and cloud CPU usage from consumers and enterprises to mine cryptocurrency. Coinminers can slow devices, overheat batteries, and in some cases, render devices unusable. For enterprise organizations, coinminers can put corporate networks at risk of shutdown and inflate cloud CPU usage, adding cost.

 

“Now you could be fighting for resources on your phone, computer or IoT device as attacks use them for profit,” said Rajoo. “People need to expand their defenses or they will pay for the price for someone else using their device.”

 

IoT devices continue to be ripe targets for exploitation. Symantec found a 600 percent increase in overall IoT attacks in 2017, which means that cyber criminals could exploit the connected nature of these devices to mine en masse. Macs are not immune either with Symantec detecting an 80

 

percent increase in coin mining attacks against Mac OS. By leveraging browser-based attacks, criminals do not need to download malware to a victim’s Mac or PC to carry out cyber attacks.

 

Majority of Targeted Attackers Use Single Method to Infect Victims
The number of targeted attack groups is on the rise with Symantec now tracking 140 organized groups. Last year, 71 percent of all targeted attacks started with spear phishing – the oldest trick in the book – to infect their victims. As targeted attack groups continue to leverage tried and true tactics to infiltrate organizations, the use of zero-day threats is falling out of favor. Only 27 percent of targeted attack groups have been known to use zero-day vulnerabilities at any point in the past.

 

The security industry has long discussed what type of destruction might be possible with cyber attacks. This conversation has now moved beyond the theoretical, with one in ten targeted attack groups using malware designed to disrupt.

 

Implanted Malware Grows by 200 Percent, Compromising Software Supply Chain
Symantec identified a 200 percent increase in attackers injecting malware implants into the software supply chain in 2017. That’s equivalent to one attack every month as compared to four attacks the previous year. Hijacking software updates provides attackers with an entry point for compromising well-guarded networks. The Petya outbreak was the most notable example of a supply chain attack. After using Ukrainian accounting software as the point of entry, Petya used a variety of methods to spread laterally across corporate networks to deploy their malicious payload.

 

Mobile Malware Continues to Surge
Threats in the mobile space continue to grow year-over-year, including the number of new mobile malware variants which increased by 54 percent. Symantec blocked an average of 24,000 malicious mobile applications each day last year. As older operating systems continue to be in use, this problem is exacerbated. For example, with the Android operating system, only 20 percent of devices are running the newest version and only 2.3 percent are on the latest minor release.

 

Mobile users also face privacy risks from grayware apps that aren’t completely malicious but can be troublesome. Symantec found that 63 percent of grayware apps leak the device’s phone number. With grayware increasing by 20 percent in 2017, this isn’t a problem that’s going away.

 

Business-Savvy Cyber Criminals Price Ransomware for Profit
In 2016, the profitability of ransomware led to a crowded market. In 2017, the market made a correction, lowering the average ransom cost to $522 and signaling that ransomware has become a commodity. Many cyber criminals may have shifted their focus to coin mining as an alternative to cashing in while cryptocurrency values are high. Additionally, while the number of ransomware families decreased, the number of ransomware variants increased by 46 percent, indicating that criminal groups are innovating less but are still very productive. In 2017, Philippines ranks 20th in terms of ransomware threats globally, as compared to 25th in 2016.

 

From the Experts: Security Best Practices
As attackers evolve, there are many steps businesses can take to protect themselves. As a starting point, Symantec recommends the following best practices.

 

FroFor businesses:

  • Don’t get caught flat-footed: Use advanced threat intelligence solutions to help you find indicators of compromise and respond faster to incidents.
  • Prepare for the worst: Incident management ensures your security framework is optimized, measurable and repeatable, and that lessons learned improve your security posture. Consider adding a retainer with a third-party expert to help manage crises.
  • Implement a multi-layered defense: Implement a multi-layered defense strategy that addresses attack vectors at the gateway, mail server and endpoint. This also should include two-factor authentication, intrusion detection or protection systems (IPS), website vulnerability malware protection, and web security gateway solutions throughout the network.
  • Provide ongoing training about malicious email: Educate employees on the dangers posed by spear-phishing emails and other malicious email attacks, including where to internally report such attempts.
  • Monitor your resources: Make sure to monitor your resources and networks for abnormal and suspicious behavior and correlate it with threat intelligence from experts.

 

For consumers:

  • Change the default passwords on your devices and services: Use strong and unique passwords for computers, IoT devices and Wi-Fi networks. Don’t use common or easily guessable passwords such as “123456” or “password”.
  • Keep your operating system and software up to date: Software updates will frequently include patches for newly discovered security vulnerabilities that could be exploited by attackers.
  • Be extra careful on email: Email is one of the top infection methods. Delete any suspicious-looking email you receive, especially if they contain links and/or attachments. Be extremely wary of any Microsoft Office email attachment that advises you to enable macros to view its content.
  • Back up your files: Backing up your data is the single most effective way of combating a ransomware infection. Attackers can have leverage over their victims by encrypting their files and leaving them inaccessible. If you have backup copies, you can restore your files once the infection has been cleaned up.

RECOMMENDED ARTICLE FOR TECHWORLD


 
NVIDIA Supersizes PC Gaming with New Breed of Big Format Gaming Displays
Techworld Date Posted: 8 January 2018 4:42 PM | 197 Views
Created in conjunction with NVIDIA hardware partners Acer, ASUS and HP, BFGDs integrate a high-end 65-inch, 4K 120Hz HDR display with NVIDIA® G-SYNC® technology together with NVIDIA SHIELDTM, the world’s most advanced streaming device.. See More
 
NVIDIA Supersizes PC Gaming with New Breed of Big Format Gaming Displays
Techworld Date Posted: 4:42 PM | 197 Views
Created in conjunction with NVIDIA hardware partners Acer, ASUS and HP, BFGDs integrate a high-end 65-inch, 4K 120Hz HDR display with NVIDIA® G-SYNC® technology together with NVIDIA SHIELDTM, the world’s most advanced streaming device.See More

 
Kaspersky Lab Industrial Cybersecurity Conference 2018 Call for Papers
Techworld Date Posted: 3 May 2018 3:42 PM | 119 Views
The growing interconnectedness of IT and operational technology (OT) systems raises new security challenges and requires the transformation of both protection technologies and the mindsets of board members, engineers and IT security teams. . See More
 
Kaspersky Lab Industrial Cybersecurity Conference 2018 Call for Papers
Techworld Date Posted: 3:42 PM | 119 Views
The growing interconnectedness of IT and operational technology (OT) systems raises new security challenges and requires the transformation of both protection technologies and the mindsets of board members, engineers and IT security teams. See More

 
Businesses Most at Risk from New Breed of Ransomware
Techworld Date Posted: 20 September 2017 9:35 AM | 298 Views
While ransomware has long been one of the main cyber threats to businesses, the past number of months have seen organizations more exposed than ever.Symantec's latest research paper on ransomwarehas found that businesses were.... See More
 
Businesses Most at Risk from New Breed of Ransomware
Techworld Date Posted: 9:35 AM | 298 Views
While ransomware has long been one of the main cyber threats to businesses, the past number of months have seen organizations more exposed than ever.Symantec's latest research paper on ransomwarehas found that businesses were...See More

 
Watch and Download Movie Life (2017)
Techworld Date Posted: 14 September 2017 2:13 PM | 331 Views
The Kaspersky Lab Anti-Malware Research team has identified two botnets made of computers infected with malware, which silently installs cryptocurrency miners - legitimate software used to create ("mine") virtual currencies based on blockchain technology. In.... See More
 
Watch and Download Movie Life (2017)
Techworld Date Posted: 2:13 PM | 331 Views
The Kaspersky Lab Anti-Malware Research team has identified two botnets made of computers infected with malware, which silently installs cryptocurrency miners - legitimate software used to create ("mine") virtual currencies based on blockchain technology. In...See More

 
Fortinet Reports Third Quarter 2018 Financial Results
Techworld Date Posted: 6 November 2018 4:07 PM | 69 Views
Fortinet® (Nasdaq: FTNT), a global leader in broad, integrated and automated cybersecurity solutions, has announced financial results for the third quarter of 2018.. See More
 
Fortinet Reports Third Quarter 2018 Financial Results
Techworld Date Posted: 4:07 PM | 69 Views
Fortinet® (Nasdaq: FTNT), a global leader in broad, integrated and automated cybersecurity solutions, has announced financial results for the third quarter of 2018.See More

 
Boost Your Office Network with the DAP-2230 Wireless N PoE Access Point
Techworld Date Posted: 31 August 2017 3:36 PM | 210 Views
Manila, Philippines - Building a business system isn't easy-building one that's robustly connected is even harder. Today's tech-savvy world means that businesses need to step up their game constantly in order to beat the.... See More
 
Boost Your Office Network with the DAP-2230 Wireless N PoE Access Point
Techworld Date Posted: 3:36 PM | 210 Views
Manila, Philippines - Building a business system isn't easy-building one that's robustly connected is even harder. Today's tech-savvy world means that businesses need to step up their game constantly in order to beat the...See More

 
Chinese-Speaking APT Actor Caught Spying on Pharmaceutical Organizations
Techworld Date Posted: 15 March 2018 11:36 AM | 562 Views
Kaspersky Lab’s researchers have discovered evidence of an emerging and alarming trend: more and more advanced cyber threat actors are turning their attention to attacks against the healthcare sector. The infamous PlugX malware has.... See More
 
Chinese-Speaking APT Actor Caught Spying on Pharmaceutical Organizations
Techworld Date Posted: 11:36 AM | 562 Views
Kaspersky Lab’s researchers have discovered evidence of an emerging and alarming trend: more and more advanced cyber threat actors are turning their attention to attacks against the healthcare sector. The infamous PlugX malware has...See More

 
The Numerical Pad: Why so Special
Techworld Date Posted: 31 July 2017 9:32 AM | 153 Views
The numerical pad (which from now on we will call the "numpad") might just seem pretty useful to call center agents, cashiers, and telecomm operators. In computers, we already have numbers above our letter.... See More
 
The Numerical Pad: Why so Special
Techworld Date Posted: 9:32 AM | 153 Views
The numerical pad (which from now on we will call the "numpad") might just seem pretty useful to call center agents, cashiers, and telecomm operators. In computers, we already have numbers above our letter...See More

 
Fortinet Reports Third Quarter 2017 Financial Results
Techworld Date Posted: 27 October 2017 5:15 PM | 253 Views
Fortinet® (NASDAQ: FTNT), a global leader in high-performance cyber security solutions, today announced financial results for the third quarter ended September 30, 2017.. See More
 
Fortinet Reports Third Quarter 2017 Financial Results
Techworld Date Posted: 5:15 PM | 253 Views
Fortinet® (NASDAQ: FTNT), a global leader in high-performance cyber security solutions, today announced financial results for the third quarter ended September 30, 2017.See More

Rhea Sanvictores
ESGS 2017: The Summit of All Gaming
Techworld • By: Rhea Sanvictores | Date Posted: 30 October 2017 5:23 PM | 664 Views
Hailed as the biggest gaming event in Southeast Asia, the recently concluded Electronic Sports and Gaming Summit (ESGS) has just proven that it really is. . See More
Rhea Sanvictores
ESGS 2017: The Summit of All Gaming
Techworld • By: Rhea Sanvictores | Date Posted: 5:23 PM | 664 Views
Hailed as the biggest gaming event in Southeast Asia, the recently concluded Electronic Sports and Gaming Summit (ESGS) has just proven that it really is. See More


Power by

Download Free AZ | Free Wordpress Themes