Cryptomining malware detection increased by 459%

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According to the latest report from the Cyber Threat Alliance, cryptocurrency mining detections have increased sharply between 2017 and 2018, hitting an increase of 459 percent.

Due to the rise of the value of various cryptocurrencies, the cryptocurrency mining malware has seen a sharp rise during this year, with a combined data from several CTA members showing an increase yearly rise of 459 percent, with a rapid growth in the recent quarter.

This does not come as a surprise and the report is similar to the one from Symantec, which suggested an increase of 8,500 percent in cryptocurrency mining malware detection.

The report has been written by Neil Jenkins, a chief analytics officer at the CTA, as well as security executives from CTA member companies like Cisco, Fortinet, McAfee, NTT Security, Palo Alto Networks, Rapid7, and Sophos.

The biggest concern is that the CTA thinks this threat is not a temporary fad, but a big problem that will continue to evolve. He also adds that cryptomining is quite hard to detect and it is also a cheap and easy way for hackers to make money.

“What a mining threat actors is really trying to do is get their malware on as many machines as possible and stay there as long as possible,” Jenkins said. “On a per-machine basis they aren’t going to make a lot of money, but the more machines you get on and the longer you sit on them the higher your chances are of making more money.”

The report also suggests best security practices, like making sure that the system is fully patched, as well as points out a couple of other security moves like using machine learning to identify suspicious traffic and more.

You can check out the full report over at CyberThreatAlliance.org.

 

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Slobodan Simic is foremost an IT enthusiast who discovered his knack for writing, which lead to becoming both an IT journalist and later an Editor for a number of publications. He has been covering anything from the consumer- and professional-oriented hardware to software markets and networks. With a focus on chasing down leads, making sure that fresh content is ready for publishing, as well as keeping up with the evergrowing and evolving IT world, writing has become more of his passion rather than just a job.