Fortinet Cybersecurity Study Shows Increase in Cybercrime Innovation

Hacks and Cybersecurity, News

Fortinet is a global leader in cybersecurity solutions and has recently published its findings for the first quarter of 2018. While the report itself requires a subscription, some key metrics can be found on their blog.

The report indicates that hackers are becoming more diverse in the range of techniques used. The number of unique exploitations grew by 11% since the last report. While the total number of exploits have gone down, which is a positive sign, hackers seem to be getting better at matching methodologies to their target. They are also becoming more innovative regarding the types of attacks used.

Cryptojacking has doubled, where systems are hijacked to mine cryptocurrencies. Multiple operating systems are being targeted as well as multiple cryptocurrencies – the main ones being Bitcoin, DASH, and Monero. This area is expected to see continued investment as the profits and use cases of blockchain technology evolve over the long term.

Cryptocurrency mining is a multi-billion dollar industry, with two Chinese companies set for billion-dollar IPOs. The primary techniques for crypto jacking are still basic phishing techniques, where users click on a link, or through online ads that run JavaScript in the victim’s browser. The crypto mining code runs in the user’s background, and besides a slower system, the malware gives no other signs.

A number of trends also continue to bear out. Internet of Things devices are once again the center of attention from a cybersecurity perspective. These devices and technologies need to be secure before they can be used on a wider basis. Ransomware continues to cause damage, such as GandCrab, BlackRuby, and SamSam. Operational Technology attacks have gone down this quarter, but this is still cited as one of the most worrying trends. This sector is becoming more connected to the internet, which can have serious security ramifications.

Microsoft is still identified as the number one target for exploits, with routers coming second. Content management systems, as well as web-related technologies, are also heavily targeted as cybercriminals continue to target known vulnerabilities that are not patched.

The report further indicates that, in all likelihood, security resources are stretched too thin as companies adapt to the new digital economy. With hackers now even employing TLP encryption to hide malicious code, legacy threat detection services are unable to keep pace with the volume and variety of today’s malware. According to Fortinet, the solution to the cybersecurity issue is a highly proactive security defense system.

Digital Nomad with an interest in Zen and Blockchain technology.

Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.

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