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Singapore has a 300% annual increase in cryptojacking attacks when the corona virus breaks out

June 7, 2020

Data from Russian cyber security company Kaspersky shows that the spread of cryptojacking attempts in Singapore increased significantly in the first quarter of 2020.

Kaspersky appreciates that Between January and March, 11,700 device attacks were attempted in Singapore, an increase of 2,900 over the first quarter of 2019.

Kaspersky claimed that The culmination of the attack is the highest percentage increase in the Southeast Asia region.

Cryptojacking attacks three times in Singapore

Singapore has a 300% annual increase in cryptojacking attacks when the corona virus breaks outSingapore has a 300% annual increase in cryptojacking attacks when the corona virus breaks out

In an interview with Straits Times, Kaspersky’s general manager for Southeast Asia, Yeo Siang Tiong, described Singapore’s powerful Internet infrastructure as a magnet for cybercriminals.

“Cybercriminals use a variety of means to install mining programs on others’ computers, preferably in abundance, and use all of the profits from cryptocurrency mining without incurring equipment or electricity costs,” said Tiong.

Tiong claims that the increasing difficulty of mining cryptojackers stimulates to control a zombie network instead of targeting individual devices, and explains:

“It is no longer profitable to mine cryptocurrencies with your own equipment and electricity. It is better to resort to hijacking other cryptocurrency mining resources.”

Corona virus creates new opportunities for hackers

Ebersheds law firm chief cybersecurity, Harry Elias, K.K. Lim attributed the recent surge in cryptojacking attacks to a large number of people working from home (WFH) in the midst of the COVID-19 pandemic, creating many facilities for attackers.

“We can definitely say that people who work from home increase their chances, as does phishing, as some of these employees’ home computers may not have security updates as it is a generic computer that is used by everyone.” said Lim.

“Practice good basic cyber hygiene, e.g. B. Clicking unknown links in emails, accessing news and other information on official government, business, and legitimate websites, current endpoint security, and ongoing business training are some effective ways to use these crypto- Avoid miners, “added Lim.

In April, security firm Acronis reiterated Eversheds and Kaspersky’s claims, estimating that the number of cryptocurrency mining attacks against consumers has increased dramatically in the last few weeks of March.

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