Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that cryptomining malware accounted for the second-largest corporate network attacks at 21% between January 1, 2020, and December 31.
Botnet took the pole position during the same period at 28%. Infostealer ranks third with a share of 16%, followed by mobile at 15%. Banking malware attacks rank fifth with a share of 14%. Ransomware accounted for the least form of attack at 5%.
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In terms of regional distribution, cryptominers accounted for 19% of corporate malware attacks in the Americas. Europe, Middle East, and Africa (EMA) region saw cryptomining malware take up 21% of attacks. The Asia-Pacific region accounted for the highest cryptomining malware attacks on corporate networks at 26%.
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Surging crypto sector value contributes to rising in cryptomining malware
The report overviews some of the contributing factors for cryptominers to occupy a significant share among corporate malware attacks. According to the research report:
“IN 2020, DIGITAL ASSETS REMAINED RESILIENT AMID THE ECONOMIC MELTDOWN OCCASIONED BY THE CORONAVIRUS PANDEMIC. THE VALUE OF CRYPTOCURRENCY BEGAN RISING FROM THE THIRD QUARTER OF 2020, LED BY BITCOIN IN RETURN BOLSTERING THE AMOUNT OF MONEY HACKERS CAN RAKE IN. IN GENERAL, ATTACKERS TOOK ADVANTAGE OF THE PRICE TREND AND INCREASINGLY SPREAD MALWARE TO EXPLOIT OTHER PEOPLE’S COMPUTER RESOURCES FOR ILLEGAL MINING ACTIVITIES.”
Cryptomining hackers are also advancing their act by focusing on anonymous digital assets, like Monero.
In general, they are going for assets that can hide transaction parties and amounts that cannot be linked to previous transactions and are designed for mining on ordinary computers.
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