In the realm of cryptocurrency, the dangers of clandestine cyber attacks that target and siphon valuable assets may not always be clear – but they are present. Worryingly, it has become increasingly apparent that traditional tools to counter these threats are struggling to keep up in a constantly evolving landscape. Early detection of attacks is more necessary.
From January to May this year, UK-based cybersecurity start-up Darktrace detected a 78 per cent growth in the frequency of under-radar crypto-jacking threats and a total of 1,313 crypto-mining incidents across the world.
Moreover, it observed a rise in crypto-mining attacks in the Asia Pacific (APAC) region – particularly in Singapore, Hong Kong and Australia, where cryptocurrency mining malware encounters were 17 per cent more than the global average.