BlackBerry VP: Cryptojacking Attacks Are Extremely Underestimated

The BlackBerry VP believes that many crypto businesses don’t have the needed knowledge about the combination of crypto mining apps with malware and that cryptojacking attacks are seriously underestimated so let’s find out more in the crypto news today.

Cryptojacking attacks are both external and internal threats as the hacker groups are getting even more organized in attempts to exploit the vulnerabilities in the networks. There are also cases where some admins use valid entitlements to make money from illegal crypto mining sing the network’s resources and according to the BlackBerry VP Josh Lemos, many organizations lack the visibility for these issues.

Lemos said that a crypto mining software is not malicious necessarily but opportunistic as it utilizes compute resources for monetary gain. However, you often find it paired with malicious software and some organizations are not well-enough observed when it comes to protecting the networks of their platforms.
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Lemos elaborated on crypto mining even further that the attacks are getting more sophisticated saying that crypto miners don’t have to be sophisticated and can be delivered in various ways:

“from JavaScript running on a website as a watering hole attack or embedded in a spear-phishing email to supply chain attacks with miners embedded in docker hub images and malicious browser extensions. Distribution is the primary goal and with detection does not carry a meaningful risk, TAs can spread their miners far and wide.”

Recent cryptojacking cases such as Lucifer, show  pattern that is most commonly used in XMRig crypto mining app attacks as BlackBerry executive explained:

 “Monero is pitched as more lucrative to the average user due to the nature of the mining algorithm. Anytime you have uneducated users looking for a quick buck, you will have more opportunities for exploitation. The old adage still holds true: the best way to get rich in a gold rush is to sell shovels. In this case, the shovels also contain malware.”

Lemos believes that the hackers will continue to use full malware suites with capabilities that leverage many vulnerabilities to establish persistence in a growing trend in such kind of attacks and Lucifer is only a continuation or evolution of the trend. As the Coronavirus pandemic is still active, Lemos claims that cryptocurrencies will be considered as a valuable alternative investment and that cryptojacking attacks are here to stay.