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Rapid Rise in Monetization of IoT Attacks

A new Trend Micro report details how cybercriminals are increasingly looking to make money by compromising Internet-of-things devices. Underground websites frequented by Russian, Portuguese, English, Arabic, and Spanish-speaking hackers are seeing a surge in discussions on how IoT attacks can be monetized, with much of the talk focusing on Routers and IP cameras. Consumer devices were more popular targets than those mainly used in corporations.

Financially motivated IoT campaigns seemed an especially hot topic on Russian and Portuguese forums, which were also found to be the most criminally sophisticated. The main focus of threat actors on these forums was how to sell access to IoT devices that have already been compromised. Since IoT devices are often poorly secured, compromising hundreds or even thousands of vulnerable devices is not particularly challenging for a skilled hacker.

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Bob Gourley

Bob Gourley

Bob Gourley is the co-founder and Chief Technology Officer (CTO) of OODA LLC, the technology research and advisory firm with a focus on artificial intelligence and cybersecurity which publishes and Bob is the author of the book The Cyber Threat. Bob has been an advisor to dozens of successful high tech startups and has conducted enterprise cybersecurity assessments for businesses in multiple sectors of the economy. He was a career Naval Intelligence Officer and is the former CTO of the Defense Intelligence Agency.