Kaspersky forecasts increase in crypto-jacking, reporting ransomware decline

29 June 2018

According to the latest report made by Kaspersky Lab, cybercriminals are changing their attack schemes from ransomware to crypto-jacking, as the ransomware attacks are no longer viewed as profitable to them. Now the attackers practice installing crypto-mining malware to unwitting users, because, Kaspersky believes, it is more profitable in a long term than locking computers for further squeezing money out of the users.

Kaspersky noted that upon comparing the data from April 2016 to March 2017 with the data from April 2017 to March 2018, the security software vendor found that the number of ransomware cases declined by 44.6% within the period from 2017 to 2018. On the other hand, the number of crypto-mining malware cases increased by 44.5%.

In the opinion of Kaspersky experts, the figures will go on growing with a specific focus made on mobile users. In its report, the security firm says that it is high likely that extra growth of illicit mining will take place at the expense of mobile miners. Insomuch as the number of these is ever increasing, cybercriminals will direct their eyes on them, developing a solution to install crypto-jacking malware on their smartphones.

Kaspersky believes that China and India are under particular threat, because these countries have about 1/3 of all smartphones used across the globe.

“While ransomware has provided a potentially large but one-off income for its cybercriminals, miners will provide a lower, but longer lasting one. Last year we asked what tips the scales for cybercriminals? Today, this is no longer a question. Miners will keep spreading across the globe, attracting more people.”

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