New Pathway To Monetization For Crypto Mining Criminals

To date, typically cryptocurrency mining has been viewed more as a nuisance than a disrupter. Yet, that is changing as securityboulevard.com states in a recent article saying that “CrowdStrike has recently seen several cases where mining has impacted business operations rendering some companies unable to operate for days and weeks at a time.”

https://securityboulevard.com/2018/03/news-wrap-up-crypto-miners-tap-hacked-websites-achieve-monetization-breakthrough/

And, as the ways and means of stealing continue to get ever more sophisticated, a new method comes out of Iceland in which the crooks have gone in and taken the actual servers. According to nakendsecurity.com, “600 servers have been spirited out of data centers in four burglaries. Three heists happened in December and a fourth took place in January.”

https://nakedsecurity.sophos.com/2018/03/06/big-bitcoin-heist-sees-600-icelandic-servers-stolen/

Don’t think for a moment that you can take a breath because the thievery techniques and methods are growing exponentially. Securityboulevard.com reports that, “Cyber criminals have discovered a new pathway to monetization that’s as trouble free as anything they could have dreamed up: crypto mining on the back of hacked websites.” According to aforementioned article, “Security vendor Cyren put out results of a study this week showing a 725% spike in the number of websites hosting cryptocurrency mining software in January 2018 as compared to September 2017.” https://securityboulevard.com/2018/03/news-wrap-up-crypto-miners-tap-hacked-websites-achieve-monetization-breakthrough/

As the entire business world is vulnerable and every company that hasn’t been attacked still thinks it can’t happen to them, there seems to be only one real motivating factor for companies to protect their data. That is the threat of regulatory penalties. It appears to be the only thing to unlock the necessary resources.

The GDPR deadline for cybersecurity compliance is just a couple of months away. Don’t wait for an expensive security breach or expensive fines to motivate your company. There’s still time to stay ahead of the criminals and protect your company and its customers. Call our offices to set up a consultation and to find out more about the new EUgrc Compliance Suite.