The word reflection often defines this time of year. We reflect on our wins and celebrate the progress that they signify. We reflect on our loses and identify the areas of our lives that need improvement or extra attention. However, we need to also reflect on the cloud threats that defined 2018 and armor up for next year’s attacks. To prepare for the next wave of threats, you must keep abreast of the vulnerable areas that exist within the cyber landscape. One such area is the Cloud.
The Benefits of the Cloud
The Cloud and its many improvements, continues to take the IT world by storm (pun intended). Gone are the days of physical data centers as more and more companies and organizations transition to cloud based storage. Moreover, the cloud is cost effective, has unparalleled storage capabilities and requires less manpower than that of data centers.
Crypominers taking the Cloud Environment by Storm
Despite the benefits, the cloud environment has a target on its back. More and more attackers salivate at the thought of gaining access to the vast amount of data and sensitive information it holds. 2018 has been a testament to this. According to Checkpoint’s 2018 Mid-Year Cyber Attack Trend Report, 51% or organizations experienced some degree of cloud-based attacks, including large companies like FedEx, Intel and Honda. Companies, who many of us presume have the best-in-class cloud protection.
However, it appears that this year, the attackers have been two steps ahead of everyone else, resulting in their success. Successful cloud threats primarily stem from poor or ineffective security procedures and practices. However, according to the report, Cryptominers are now turning the cloud environment upside down. More and more cyber criminal are using cryptomining malware for unauthorized activities. They see the cloud infrastructure as a money making machine able to generate huge profits in the form of cryptocurrency. The sad truth is, these threat actors are not wrong because crypotominers can make them a whopping 30,000 per month.
Don’t let your Company be the next Victim
Although cryptominers are a great concern, understand that they are not the only major threat looming. Attackers are constantly creating and/or finding new ways to infiltrate the cloud and compromise its data.
Regardless of the avenue of attack, or the reason behind the attack, cloud threats are on the rise. It is up to you to remain informed and take the necessary precautions to ensure that you and your organization do not become susceptible to the attacks that are on the horizon.
Sources: Checkpoint
