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The new form of cryptocurrency hacking that has amounted to US$1.3 billion in the first quarter of 2022 | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker


Whether via a link, email, or classic malware, attacks of this type can be very difficult to detect. However, some signs can provide a warning to prevent it from going any further.

The arrival of the cryptocurrency world has brought with it some facilities and flexibility to embrace the new economic changes. But it has also contributed significantly to various scams, risks and cyberattacks. Thus, one concept that has stood out lately is ‘cryptohacking’: It is using other people’s devices (PC, smartphones, tablets and even servers) without proper consent or knowledge to mine and extract cryptocurrencies from victims.

In the first quarter of 2022, there were 78 hacking events and almost US$1.3 billion was obtained through blockchain, which is a 136% increase in crimes compared to the same quarter of 2021. These numbers continue to increase, so paying attention to the different warning signs that may arise is crucial.

Eduardo Borba, President, Softline Brazil, said: “Although today the market constantly seeks to promote user security through methods such as identity verification or QR codes, anyone is susceptible to suffering this type of hack. Therefore, it is essential to be aware of any unusual signs that may be present on the computer. Although many companies have disclosed their vulnerability to this type of hack, the expansion of the cryptocurrency market continues.”

“In turn, Brazil ranks first in Latin America with the highest number of cyberattacks, according to a report released by SonicWall. However, in an industry that does not stop, the goal is to promote in the user the use of computerized systems capable of providing greater security for sensitive data and information that represent a higher level of importance to the public,” explained Borba.

The principal motivation for committing cryptohacking is money and, with it, the power to perform other attacks. These types of cyberattacks aim to go even further and break into more and more relevant hardware.

An example of this is an incident in which criminals hacked into the operational technology network of a European public water utility’s control system. According to infrastructure security experts, there was a degradation of the operator’s ability to manage the plant, resulting in a significant impact on internal security.

Fortunately, the company noticed when it installed intrusion detection products on its networks, especially internal ones.

The process of this type of attack is the same as for malware: they enter the device through an email, a link, etc. These attacks on a system can be hard to detect. Similarly, finding the source of CPU usage can be complex. Processes can be hidden or masked as legitimate through proper system names to prevent users from interrupting them.

In an ever-changing threat landscape, keeping safe from the latest dangers, such as crypto-hacking, is a full-time job. For this reason, having the means to detect and clean up any intrusion and protect all the most valuable resources on your computer is vitally important. Whether you are entering the world of cryptocurrencies or not, taking care of your devices is essential to avoid falling into the hands of malicious people. Prevention is critical to staying safe.

About Softline

Softline is a leading global solutions and services provider in Digital Transformation and cybersecurity, headquartered in London. The company enables, facilitates and accelerates Digital Transformation for its customers’ businesses, connecting more than 150,000 organizations from all sectors with up to 6,000 best-in-class IT vendors, alongside its services and solutions.

With a turnover of US$2.2 billion in the fiscal year of 2021, Softline is currently one of the fastest-growing companies in the sector. In October 2021, the company got its primary listing on the London stock exchange. Softline’s growth is underpinned by its three-dimensional strategy to expand its geography, portfolio and sales channels. The strategy is supported by Softline’s active approach to M&As, enabling the company to take advantage of the ongoing consolidation in the industry. During the fiscal year of 2021, Softline acquired several companies with annual turnover totaling approximately US$ 200 million, including five acquisitions that have been announced in the first six weeks of 2022.

Softline’s 8400 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe and Africa markets with significant growth potential.

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