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Check Point: Cryptomining attacks affect one-third of organizations



37% of Organizations Impacted by Cryptomining Over Past Year, Shows Check Point’s 2019 Security Report Crypto Heroes

Cryptomining attacks have affected one-third of organizations globally over the past 12 months. This is according a security report published by Check Point yesterday, January 21.

Cryptomining attack dominate the malware space

According to the report by Check Point Software Technologies Ltd, 20 percent of companies across the world continue to be affected by cryptomining attacks every week. The report pointed out that 33 percent of the companies were hit by mobile malware while ransomware accounts for just 4 percent of the attacks over the past 12 months.

The report revealed that cryptominers dominated the malware space. The leading four prevalent malware types were cryptominers, and they affected 37 percent of organizations globally last year. The drop in prices of cryptocurrencies hasn’t deterred them, with 20 percent of the companies experiencing cryptomining attacks weekly. The report stated that “Cryptominers have also highly evolved recently to exploit high profile vulnerabilities and to evade sandboxes and security products to expand their infection rates.”

The report pointed out that mobile malware was the highest last year, with 33 percent of organizations suffering through this medium. The three leading malware types all targeted the Android OS. Last year saw the rise of mining apps made available on app stores though unknowing to users.

The report also revealed that multi-purpose botnets launched numerous attacks. The security firm stated that “Bots were the third most common malware type, with 18% of organizations hit by bots which are used to launch DDoS attacks and spread other malware.  Bot infections were instrumental in nearly half (49%) of organizations experiencing a DDoS attack in 2018.”

Ransomware attacks, however, declined in 2018. The report noted that ransomware attacks dropped sharply last year, accounting for just 4 percent of attacks globally last year. Peter Alexander, Chief Marketing Officer of Check Point Software Technologies, stated that “Threat actors have a wide range of options available to target and extract revenues from organizations in any sector, and the first installment of the 2019 Security Report highlights the increasingly stealthy approaches they are currently using. “

Alexander further stated that the multi-vector, fast-moving, large-scale Gen V attacks are becoming more frequent and organizations will need to do more to boost their cybersecurity. He encouraged them to adopt a multi-layered cybersecurity strategy to prevent cyber attacks from taking place on their network and data.

The report by Check Point looks into the latest emerging security threats against numerous industry sectors. It offers a comprehensive overview of the trends observed in the malware space and how they affect companies and organizations.

The report was published to give cybersecurity professionals and C-Level executives the information they need to protect their institutions from cyber-attacks and threats.

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