Cryptojacking on the rise in poorer countries where ransoms can’t be paid
A collection of poorer countries in Eastern Europe are the only places in cyberspace where ransomware isn’t seen as a top threat. Cybercriminals aren’t ignoring nations like Ukraine. Instead, to make the most of malware, hackers are finding different ways to extract value from poor countries whose population is still connected to the internet. Rich countries like the United States are ripe for ransomware because the population has more money to pay ransoms, with the practice becoming a $2 billion criminal industry in 2017. Knowing that residents in less-developed countries are less likely be able to pay ransoms, criminals are heavily targeting poorer regions with malware that uses victims’ computers to mine cryptocurrency — a scheme known as cryptomining or cryptojacking — according to new research from the cybersecurity firm Bitdefender. “Ransomware is the number one infection globally,” Bogdan Botezatu, the senior threat analyst at the cybersecurity firm Bitdefender, told CyberScoop. “Cryptominers rank second.” […]
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