As our technology continues to evolve and become more intricate, so too are the ways for cybercriminals to compromise it and take advantage of our hard work – and no other field is seemingly targeted by such more prevalently than that of the crypto space.
As per the latest report by the cybersecurity firm, Aqua Security, aptly titled: “2020 Cloud Native Threat Reports”, modern cloud servers are still highly susceptible to attacks that aim to take advantage of its resources to siphon cryptocurrencies. This illicit practice is referred to as cryptojacking. As per Aqua Security; it’s as if the method is active today more than ever.
The particular report states that in between July 2019 to June 2020, tracked cryptojacking activities surged by up to 250%. As a matter of fact, over 95% of the total 16,371 hack attacks registered within the aforementioned period can be attributed to cryptojacking alone. The report states that there is a noticeable growth in pattern sophistication and organization of attacks targeting cloud infrastructures correlating to the increased interest to cryptos. Even though these attacks’ primary purpose is to mine cryptos, Aqua Security notes that sooner rather than later, the scope of such attacks may potentially grow more dangerous.
Aqua Security reveals that most perpetrators utilize the prominent Monero (XMR) mining application, XMRig, to execute their attacks. The firm explains this by saying that Monero is much easier to exploit compared to Bitcoin (BTC) because it is significantly lesser-known; thus, more anonymous and harder to track down.