Why are the attacks on Latin American crypto-miners on the rise?

Why are the attacks on Latin American crypto-miners on the rise?

Workers of the cryptocurrency systems are working tirelessly to provide more security to every business, platform, etc. But criminals are always trying to breach even the hardest security systems in their efforts to steal money or cause harm.

Cybercriminals are becoming specialized in stealing data from all kind of crypto business through complex formulas or math equations. Unfortunately, mining cryptocurrencies is a process that makes it easier to commit illicit acts.

One company focused on informatics security is Kaspersky Lab, which revealed some data regarding these cyberattacks in South America, increasing from 57,278 incidents in 2017 to 393,405 cases so far this year.

Brazil (51.23%), Mexico (19.86%) and Colombia (7.2%) have been the most affected. This numbers reflect that every day there are more cybercriminals trying and breaching the most intricate systems.

According to reports, Bitcoin is one of the most sought-after digital coins, followed by Monero and Zcash.

Law enforcement agencies like the FBI warn that ATMs are the most vulnerable. The number of affected users by malicious crypto-miners increased to 44.5% compared to the 2016-2017 cycle, while it jumped 9.5% in mobile devices.

This shows the high number of attacks in the virtual asset market, which must lead the authorities _ and specially network managers _ to improve their security systems in order to prevent these crimes to continue to harm the system, the market, the investors and the virtual asset sector in general.

According to Santiago Pontiroli, security researcher at Kaspersky Lab, the attack increase is due “mostly because the simple monetization system, so they often go undetected and it’s easy to create a miner with open source tools and malware builders.” The most conservative forecast of return of investment for these campaigns is about $30,000 USD a month, added Kaspersky.

According to the computer security firm, the most vulnerable operating systems are Windows 10, with 47.48%, followed by Windows 7 (39.88%) and Windows 8 (10.07%).

These attacks mostly affect desktops, said Pontiroli.

“This malware is easily identifiable in mobile devices because of the spike in the internet data consumption and the reduction of the battery life. A clear example is the Loapi malware, which applied so much stress in the device to deform the battery while mining cryptocurrencies,” explained Pontiroli.

This shows there is so much to be done in order to improve the security and the operating systems for all kind of transactions, because criminals can still tamper the devices relatively easily.

 

Source: El Tiempo

  • Ivan Dario Fajardo

    Ivan Dario Fajardo

    Nacionalidad colombiana, con amplia experiencia en el mundo de las ventas, negocios y conocimiento en diferentes lineas de mercado.

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