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Fears of Cryptocurrency Consumer Theft Unfounded

 

 

Anti-malware software company Malwarebytes released a report breaking down the data and trends related to cryptocurrency hacks. “Cybercrime tactics and techniques Q1 2019” highlights that the security fears of cryptocurrency use by the majority of users is mostly unfounded. Essentially, for individuals engaging in cybercrime, cryptocurrencies are designed and stored in a way such that in order to steal from an individual requires a similar effort to that of stealing from an enterprise level storage. The report notes several other key takeaways as well.

 

“Businesses are still the prime target”

Threats to businesses have steadily risen according to Malwarebytes detections by about 7% over Q4 2018. Consumer detections, in contrast, have dropped almost 40%. The overall change in malware volume was a decrease by 35%. In comparison to one year ago, the change is even more exaggerated. From Q1 2018, the increase of business malware is a 235% increase, and the change in consumer targeted malware is a 24% decrease.

 

“Emotet shows no signs of stopping.”

One of the most dangerous threats to businesses today is Emotet, a malware trojan capable of gaining access to some of the deepest levels of security a business can establish. This trojan has increased its presence by almost 650% from last year, while it is almost never targeted at consumer data.

 

“Ransomware is back to business.”

Detection rates of ransomware targeted at businesses increase 195% from last quarter, and nearly 500% from Q1 2018. This massive change is largely due to the Troldesh ransomware prevalent in U.S. organizations late last year. In contrast, consumer detection rates dropped by 30% from one year ago.

 

“Cryptomining against consumer is essentially extinct”

The process where malware takes control of the computing power of a system in order to use it for mining is almost non-existent regarding that of a consumer’s average computer. The problem is still somewhat present for businesses.

 

“Adware in Macs and mobile Devices was problematic”

Mac computers saw one of the strongest increases for anything related to consumer level computer and cryptocurrency use. The problem showed that adware increased 200% from last quarter alone, but in the long term, this problem was actually slightly lower in detection rates from one year ago.

 

https://resources.malwarebytes.com/files/2019/04/MWB-CTNT-2019-state-of-malware_FINAL.pdf

 

 

 

By: BGN Editorial Staff

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