According to the latest report published by Allot Communication, the processing power of mobile phones is being used for mining cryptocurrencies illegally. Therefore, the mobile networks are becoming risky in terms of diameter signaling. Cryptojacking is emerging as a major security issue. It is somewhat similar to ransomware.
Cryptojacking is the unauthorized use of someone’s computer to access cryptocurrency. Hackers or malicious elements undertake such activities. Once the victim clicks on a infected website or link in an email, it loads cryptomining code on the computer.
As per the report of Mobile Security Trends published by Allot Communications, a mobile can get infected within the first 42.5 seconds of being connected to the internet. The company has also emphasized the matter that the IoT devices are vulnerable and are raising concern. In order to draw the conclusion, Allot has set up some artificial user IoT devices and exposed the same to the internet. The company carried the process for six weeks.
A company official informed that the outcome was frightening as the rate of the attack reached 1000 per hour. The company official also said that in spite of informing about the vulnerability of IoT devices and the threats that smartphones encounter, users haven’t been enough aware. They don’t use security tools for their smartphones. Though Google has improved its security features of Android OS, cybercriminals still get away with hijacking phone processors.
Allot Communications conducted the research from the end of 2017 to the starting of 2018 on four of the major mobile companies in Israel and Europe. The study went on for four months and 7 million users were protected under these companies.
According to the report of the company, people are interested in cryptocurrencies and they know about crypto mining. Thus, on an average two users protected their devices daily.
In another report, Positive Technologies informed that every 1 out of 3 4G LTE mobile network operators is exposed to attacks because of the danger in diameter signaling. The company also informed that information of the subscribers or the network can be accessed through diameter signaling attackers and they can mishandle the user service or interrupt user traffic.