Crypto Malware, crypto hacking, and malware are the buzzwords that are prevailing nowadays, and unfortunately, India encountered the highest incidence of such attacks across the world. In this article, we will talk about the types of crypto hacking attacks, detection, and prevention measures and will focus on Microsoft’s recent cybersecurity report.
Table of Contents
- Crypto Malware and Crytojacking- New Buzzwords in Crypto Space
- Cryptocurrency Mining Attacks Continues to Hit India
- How to Detect and Prevent Cryptojacking
- Concluding Lines
According to Microsoft’s recent cybersecurity report, India’s encounter rate for such attacks is 4.6 times higher than the global and regional average. Moreover, Microsoft Threat Protection Intelligence teams warn that cybercriminals are taking hold of COVID-19 concerns, adapting, and updating attack methods.
Crypto Malware and Cryptojacking- New Buzzwords in Crypto Space
Cryptocurrency Mining Attacks Continues to Hit India
According to the recent report, crypto-hacking, malware, ransomware, and drive-by download attacks have high cybersecurity challenges in India, where findings were derived from several Microsoft data sources eight trillion threat signals analyzed by Microsoft each day, from January to December 2019.
According to Mary Jo Schrade, Assistant General Counsel, Microsoft Digital Crimes Unit, Microsoft Asia, “the Microsoft Security Endpoint Threat report aims to create a better understanding of the evolving threat landscape and help organizations improve their cybersecurity posture by mitigating the effects of increasingly sophisticated attacks.”
Although the Microsoft report states that drive-by download attacks have declined overall in the region, India still shows a rise of 140% in these types of attacks. It was noted that Singapore, India and Hong Kong encountered the highest incidence of such attacks.
Keshav Dhakad, Group Head & Assistant General Counsel-Corporate, External & Legal Affairs, Microsoft India, also expressed his views regarding cybercriminals and stated that,
“Cybercriminals capitalize on drive-by download techniques to target the organizations and end-users with the objective of stealing valuable financial information or intellectual property. This is a likely reason for regional business hubs recording the highest volume of these threats.”
Amid the coronavirus pandemic, Microsoft team has encountered that almost every country across the globe has faced some kind of themed attack, and the volume of such successful attacks seems to be exponentially growing.
Dhakad commented on such COVID-19 themed threats and explained that threats are mostly retreads of existing attacks that are altered to tie to the pandemic which indicates that attackers have been turning their existing infrastructure, such as ransomware, phishing, and other malware delivery tools, including COVID-19 keywords, to capitalize on people’s fear. Once users click on such malicious links, “attackers can infiltrate networks, steal information, and monetize their attacks.”
How to Detect and Prevent Cryptojacking
From the above discussion, it is clear that there is an urgent need to detect and prevent crypto mining attacks from victims. Let’s briefly explore how this can be done.
Here are a few ways of detecting crypto-jacking such as:
Check for increased levels of CPU usage. Regularly scan for malware.
Be aware of the decrease in computing performance.
Don’t overlook overheating devices.
Check for coding changes on your websites.
Follow crypto news and stay updated to understand information related to cryptojacking.
As it’s always said, prevention is better than cure; similarly, in the case of crypto jacking. Here are a few ways to prevent crypto jacking.
- Using extensions that block domains associated with cryptojacking scripts and restrict permission for illegal browser extensions from gaining access.
- Stay updated about cryptojacking to be watchful towards malicious links and websites.
- Restricting websites that deliver scripts to prevent in-browsing crypto jacking.
The Microsoft report also mentioned that apart from India, users in Sri Lanka and Vietnam also face a high incidence of such attacks, which indicates that there is an urgent urge to improve cybersecurity posture and cryptojacking sophisticated attacks.