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Cryptojacking could be costing your business and the Earth

  • min read
    • As you read this, a cybercriminal could be stealing your business's electricity and computer processing power. 'Cryptojacking' means high energy bills for business and a big environmental impact everyone wants to avoid. Cryptojacking is illegally using another's devices for the power needed to mine cryptocurrencies like Bitcoin. The threat is already common and fast-growing, costing business billions worldwide and responsible for significant, unnecessary greenhouse gas emissions. So, what can you do to stop it? How cryptojackers compromise your servers and devices To use your processing power, cryptojackers must sneak mining malware into your systems. They may enter your equipment thanks to leaked login details, brute force or through unpatched vulnerabilities in your operating system and other software. They may also get crypto-mining malware in through USB flash drives or network storage. Once inside, it spreads in a worm-like way. What cryptojacking costs business We've all seen news reports of falling cryptocurrency values, but it's still worthwhile for cybercriminals to mine cryptocurrency if they get electricity and processing power for free. But it takes a lot of electricity and processing power to make little gain – a hefty 53 US dollars of system resources for 1 US dollar in crypto earnings. And it's common. In 2022, Kaspersky research found cryptojacking accounted for more than 5 percent of attacks on internet-connected computers. In the same year, Kaspersky software detected nearly 30 million cryptojacking attempts aimed at business systems. Environmental impact of cryptojacking Its sky-high energy use should make preventing cryptojacking part of your corporate social responsibility (CSR) strategy. What to ask your IT director about While cryptojacking's high computational power requirements reduce device performance, the reduction isn't always obvious to users, so preventing cryptojacking requires work on multiple fronts. IT should regularly audit the corporate network looking for anomalies across every endpoint, including easily overlooked queue management systems, point-of-sale terminals and vending machines, which cryptojackers have been known to target. Your business should use proven endpoint security that gives multi-level, comprehensive protection, including behavioral detection that can roll back  malicious actions. Cybersecurity education for all employees (not just IT) is paramount, making sure staff follow best practice so they don't unwittingly give away system access. Cryptojacking is a damaging and wasteful threat leading to unnecessary greenhouse gas emissions and high electricity bills for businesses already challenged by high energy costs. With widespread staff cybersecurity education and the right solutions protecting your business, cybercriminals won't be able to exploit your precious processing power.
cybersecurity predictions

What a year of changing cyberthreats can tell business

  • min read
    • For business leaders, knowing what's changing in cybersecurity helps you recruit the right people with the right skills today for what you'll soon need. Kaspersky's 2022 Security Bulletin (free download) analyzes which attacks their global cloud service Kaspersky Security Network (KSN) has detected, blocked and disabled over the past year. There are some numbers your business will want to know about. 15 percent of users had a malware attack Kaspersky Security Network blocked malware-class attacks on some 15 percent of users in 2022, or around 1 in 7. This shows just how common malware is. The malware class of attacks covers familiar cybercrime tools like viruses, trojans and ransomware. The countries where Kaspersky's software blocked the most malware attacks in 2022 were Tunisia, Taiwan and Algeria. 506 million web-based attacks Web-based attacks result from users downloading files that then trigger a cyberattack. These might come from websites made by cybercriminals, infected online resources within user-created content (like online forums) or legitimate resources that cybercriminals have hacked. Cybersecurity education can be a powerful tool in preventing web-based attacks. Heathrow Airport has a novel staff cybersecurity education that carefully targets those needing it most with 10-minute online learning modules. 1.4 million cryptocurrency mining attempts Cryptocurrency mining is very much on the rise. Kaspersky Security Network detected around 1.4 million attempts to install mining software in the past year. Mining means digitally solving complex mathematical problems that verify cryptocurrency transactions, which also earns cryptocurrency. It slows devices and uses much electricity. In November 2022, Kaspersky announced they'd seen a 230 percent growth in cryptocurrency mining in the third quarter of 2022 compared with the same period in the year before. 102 million attempts to visit malicious URLs Malicious URLs are a common tool in 'phishing' attacks – when cybercriminals send emails inducing recipients to click on links, downloading malware. Endpoint security is vital in protecting against phishing, as is employee cyber-awareness. 377,000 attempts to steal money These attacks were often in the form of 'banking Trojans'. In early 2022 a particularly sophisticated money-stealing Trojan popped up that masquerades as a banking app and imitates phone conversations with bank employees. The app fooled many, highlighting the need to teach employees 'cyber hygiene' – like remembering to pause and think before downloading anything. Those who provide legitimate apps or financial services might also reflect on how they can show customers their products are trustworthy. These big numbers in cybersecurity over the past year show how threats to business are growing and changing. Cybercriminals always find new ways to get through consumers' and employees' defenses. By combining hiring the right people with robust cybersecurity education and strong security solutions, your business will greatly reduce its chances of a serious attack succeeding. Then, you can spend your time on what you do best.
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About Secure Futures

Secure Futures magazine is your go-to business guide for opinions, trends and insight into the world of technology and cybersecurity. We help your business to bring on the future. Brought to you by Kaspersky, the global cybersecurity experts.

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