The unexpected and massive price spikes experienced by most cryptos late last year has brought a lot of attention to the industry. Along with this attention came bad players such as scammers, hackers and crypto jackers. Based on a recent report from McAfee research labs, it was made known that crypto mining malware has increased by 4,000% in 2018 alone.
Crypto Mining Malware Breakdown
It was reported that this massive increase in the number of malware became noticeable in the final quarter of 2017 through the first quarter of 2018. In Q2 of 2018, the number of malware dropped only for it to resume its spike in Q3 of 2018. It was also reported that crypto mining activities increased significantly during Q3 of 2018.
McAfee Report Details Susceptible Devices
According to the McAfee report, crypto mining malware activities increases by 71 percent in the third quarter of this year. The report also made it known that the main target is people making use of “routers or IoT devices such as IP cameras or video recorders as crypto miners”. The reason for them being a target is basically because no real security measures are put in place to protect these devices. The fact that these devices have weak CPUs also plays a major role in making them vulnerable to attacks.
It was also reported that users of messenger services such as Slack, Telegram and Discord are also victims of this crypto mining malware.
Increase in Meet Up Spots
It was also reported that there has been an increase in the number of spaces created for teaching methods and process through which hacking and cryptojacking attacks can be carried out. The December McAfee Labs Threat Report also made it known that there has been a significant increase in the number of underground forums where cybercriminals converge. On these forums, new methods and new software are being shared, thereby arming these criminals against new countermeasures.