Cybercriminals have always been financially motivated and cryptocurrency mining is the latest trend in generating revenue by abusing the same age-old malware attack vectors previously associated with ransomware dissemination. The recent Bitcoin craze, with the currency peaking at $19,000 per unit, has focused cybercriminals on crypto mining, instead of traditional ransomware. In fact, crypto currency-enabled malware is increasingly outdoing ransomware in popularity, with the rise in adoption picking up significantly in the past six months.
Bitdefender’s telemetry has been studying this phenomenon and today releases an in depth report into the ways cybercriminals are targeting cryptomining. Cryptojacking Whitepaper which will teach more about the emergence of cryptocurrency as a security concern.
The true magnitude of the problem – One of the most interesting attacks involved the use of industrial control systems. The industrial control systems, supervisory control and data acquisition servers of a water utility in Europe were used for the first time to mine Monero. A scary thought
Impact in the data centre – The more cryptocurrency has been mined, the more resource-intensive the process becomes. This makes it unfeasible for cybercriminals to target and control pools of individual users. It is expected that large data centers and cloud infrastructures are next in line
Country-by-country breakout of cryptomining and how it compares to the trend in ransomware reporting
One reason for the growth of crypto mining is from the emergence of browser-based web scripts that make it easy for cybercriminals to compromise high-traffic websites and plant cryptocurrency mining script. This is often done instead of deploying traditional spear phishing campaigns to infect a large number of victims, as ransomware does.
Cryptocurrencies like bitcoin are today’s hottest investment opportunities. They have made millions of dollars for savvy investors. Yet cryptocurrencies have become the target of widespread theft and scams. They are also central to digital extortion, money laundering and other crimes that can impact you—even if you don’t invest in cryptocurrency.
Artificial Intelligence (AI): The broader concept of machines being able to carry out tasks in a way that we would consider “smart”.
Analytics: The tool used to measure patterns or trends in data.
APIs: Application Programming Interface. Software that allows two different sources to communicate with each other instantly. Messenger that takes your message and tells a system what it is you want to do and returns the response to you instantly.
AWS: Amazon Web Services. A division of Amazon that provides cloud-based infrastructure for businesses.
Benchmark: A point at which activity and performance are measured and compared.
Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain from the perspective of mining, transactions per second, data structure, validation of transactions, time of launch and network running on platform.
Ripple is an enterprise level blockchain solution that empowers both users and banks. The blockchain ledger that Ripple uses has been latched onto by a group of Japanese banks, who will be using it for quick mobile payments.
Barclays bank will improve the whole banking experience for customers and other entities.
Abra is a mobile cryptocurrency app that lets users store, invest and buy cryptocurrency.
Both IBM and AIG has completed a pilot program where they can build a multi-national policy using smart contract.
The Cisco blockchain framework details the necessary elements for a simple, secure, scalable enterprise-grade blockchain that is based on Cisco’s proprietary technology. Cisco blockchain framework is composed of the following reference groups: Platform, Interfaces, Infrastructure and network and Security and analytics.
The Internet of Things (IoT), artificial intelligence (AI), and blockchain represent an unprecedented opportunity for the enterprise and the public sector. Every institution capable of exploiting these technologies will have a chance to radically streamline and enhance existing processes, create entirely new business models, and develop innovative products and services for a new generation of consumers. But this isn’t a vision of a utopian, tech-enabled future—the technology capabilities are available today to help you build the business of tomorrow. Continue reading “How Internet of Things (IoT), artificial intelligence (AI) and blockchain Revolutionize Business”