Security experts sound the alarm: IoT has little to no protection against hackers

Cybercriminals managed to gain access to some Internet users in October 2016 by attacking computers that served as a network switch. The scammers targeted poorly secured webcams and other Internet-connected gadgets, which collectively became known as the Internet of Things (IoT)..

The attack caused a little panic among people who tried unsuccessfully to visit Sony PlayStation Network, Twitter, GitHub and Spotify, but soon the event was forgotten and did not affect long-term Internet use or work with compromised devices in any way..

Security experts are raising the alarm today for a new and possibly more dangerous type of IoT attack that «steals» smart devices by secretly stealing their computing power to help cybercriminals earn cryptocurrencies. Cryptocurrencies get their name from the fact that they are based on cryptography. With its help, transactions are protected and the release of new coins is controlled by performing complex mathematical calculations. The faster the calculations take place, the more money the cybercriminals get. The main coin for mining through such schemes is Monero (XMR). Cryptojacking (the concept came from the combination of words «cryptocurrency» and «hijacking») can occur at any time when a user whose device access has been compromised goes online.

According to experts, the lack of effective measures to counter cryptojacking today may become the main problem in the development of the Internet of Things tomorrow. The fact is that the more popular this technology becomes, the more dangerous it can turn out to be for its users in the event of a seizure of control by intruders. Based on this, today one of the most important tasks is to prevent the possibility of obtaining remote access with the subsequent seizure of the capacities of devices and the control sector..

Security experts sound the alarm: IoT has little to no protection against hackers

Otherwise, the further development of the Internet of Things may be in jeopardy. The fact is that by gaining access to control of devices and valuable information, attackers will be able to gain power over people. Given the impossibility of self-defense, the only way to protect yourself is to pay cryptojackers to leave the user alone..

Earlier, we wrote about how 20 Chinese were arrested for cryptojacking..

text: Evgeniya Likhodey, photo: Glyps

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Security experts sound the alarm: IoT has little to no protection against hackers

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