The Biggest Cyber Threat Of 2018: Cryptojacking Overtakes Ransomware

According to the latest reports that reached our crypto news, Cryptojacking is the number one cybersecurity threat of this year.

Cryptojacking is the unauthorized use of other people’s hardware to mine cryptocurrency. Following up on a research from the cybersecurity research company Kaspersky Lab, ransomware is now number two on the list after cryptojacking.
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This threat is especially large in the Middle East, Africa, and Turkey. Most of the malware detected are crypto miners from these countries including Ethiopia and Afghanistan as well.

Crypto mining attacks are growing incredibly fast in the region, increasing from 3 million in 2017 to 13 million this year alone. Kaspersky Lab believes that the cryptojacking incidents will continue because of the increasing use of cryptocurrencies.

The reason why ransomware is not a number one threat anymore is that people from the developing markets are highly unlikely to pay the ransom.

The Senior Security Researcher of Kaspersky Fabio Assolini says that the above-mentioned region is becoming even more attractive to cyber-criminals because these kinds of attacks are less noticeable than ransomware.

However, there is some good news. There is a decrease in cyber attacks by 15 percent in Zambia and 11 percent in Uzbekistan.

Cryptojacking is not the only way which criminals use to obtain and use cryptocurrency. There is plenty of different malware that attacks gamers and people’s wallet addresses. The Kaspersky Lab report concludes:

“Last year we asked what tips the scales for cybercriminals? Today, this is no longer a question. Miners will keep spreading across the globe, attracting more people.”