The Internet of Things represents a significant and growing target area for cyber criminals. The growth in cryptocurrencies is focusing cyber criminals on the benefits of crypto-mining malware. Individuals, businesses and governments need to include IoT related cyber risks in their security controls and plans.
In our last cyber security report ‘IoT and Cyber Security’, we highlighted that as the number of IoT devices grow across market segments, so too will the risks of cyberbreaches across these devices. The focus in our last paper was the hijacking of IoT devices to create armies of cyber bots to carry out global cyberattacks – such as the Mirai Botnet which used thousands of IoT devices, ranging from CCTV security cameras to home routers, to orchestrate Domain Name System attacks on major websites. This report provides an update on IoT cyber risk and the growth of cryptocurrency mining cybercrime.