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Top 15 Cybersecurity Trends for 2019

Moving into the fourth quarter of 2019, it’s a great time to reflect on the current cybersecurity landscape and the major events and trends which have happened this year. Almost everybody understands what cybersecurity means in the most basic sense, as the majority at least have some experience with anti-virus software. But as we increasingly […]

Top 15 Cybersecurity Trends for 2019 was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

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Moving into the fourth quarter of 2019, it’s a great time to reflect on the current cybersecurity landscape and the major events and trends which have happened this year. Almost everybody understands what cybersecurity means in the most basic sense, as the majority at least have some experience with anti-virus software.

But as we increasingly rely on computing systems to power our day-to-day lives, our cybersecurity software and processes have to become more sophisticated. With each new piece of technology, software, hardware, or device, there’s a new and increasingly complex way for our data to be accessed or stolen.

As every piece of technology we use is ultimately created by human developers, there are invariably some aspects of every technology which aren’t flawless. Each piece of technology calls for a unique way of exploiting its specific weaknesses – a flaw in its design which allows hackers to gain access.

Usually, hackers will deploy certain attacks to test computer systems, to try and identify these weaknesses. There’s not just one or two attack vectors which cyber-criminals and hackers use to compromise systems. Instead, hackers may deploy several attacks in tandem to gain access to a system.

From the widespread implementation of blockchain and internet of things (IoT) technologies to completely new threats on the horizon, Blokt explores how 2019 has shaped the cybersecurity space.

IoT Devices Present New Challenges

IoT devices are growing in popularity, used in home, office, and industrial situations for a range of use cases. But connecting a greater range of devices to our internet systems means a greater risk that they will become compromised. Connected devices, like internet routers or sensors, can be hijacked by hackers and used to send out spam mail, or incorporated into a botnet.

Internet of Things

The National Institute of Standards and Technology (NIST) published updated guidelines in mid-2019 for the use of IoT devices, citing that the diverse range of IoT devices makes it difficult to protect and police. Among other things, NIST recommended that IoT devices keep logs of all potential cybersecurity events, however minor, to protect against them becoming part of a larger network of malicious bots.

Business Owners Bear Largest Costs of Attacks

Cyber attacks on small and medium businesses are increasing. In 2018, 61% of small to medium business owners reported that they had been victims of attacks, a 9% increase from 2017. In 2019, this figure is expected to increase further.

Each attack costs businesses an average of $383 thousand dollars, which for a small or medium business could mean significant financial hardship. Most of these attacks came from data breaches, of which 37% were identified to be a direct result of hacker attacks.

Phishing Has Increased by 65% in 2019 so Far

According to security firm Retruster, phishing attempts have grown an enormous 65% this year. Phishing attacks target information such as usernames, passwords, and payment information, using fake websites or legitimate-looking emails to steal information. Although we’re more aware of the risk of phishing attempts than ever before, people continue to fall for this attack, which is as old as email itself. So why is this?

Phishing

It could be because our perception of phishing in 2019 is skewed. The majority of people are wary of opening emails and attachments from unknown senders in case they contain malware – commonly believed to be the most dangerous form of phishing. While it’s recommended not to open such mail, anti-phishing firm Phishlabs reported that 98% of phishing emails actually contained no malware.

Instead, most phishing attempts are actually perpetrated through incredibly legitimate-looking emails. For example, Phishlabs found that 31% of emails posed as internal HR or finance providers and a further 27% of phishing emails disguise themselves as e-commerce sites, which then prompt users to log in through a fake website.

It’s at this point that attackers lift your credentials and use them to log in to your real accounts – not malware, as commonly thought.

Polymorphic and Metamorphic Threats Are on the Rise

Polymorphic attacks, which evolve as they spread across a user’s computer, make up an estimated 93% of malicious executable computer viruses in 2019. Polymorphic and metamorphic malware adapt and evade traditional antivirus software, which makes identifying and eradicating these viruses incredibly difficult. Both consumers and businesses are targets of polymorphic malware, with consumers – that’s you and I – comprising 68% of malware endpoints.

Polymorphic malware programs can include spyware, which monitors your activity and reports your keystrokes to attackers; trojans, which disguise themselves as harmless programs or files and gives attackers remote access to your PC; or viruses and worms, which can disable host computers or siphon off data at will.

Digital Asset Theft

Whilst digital assets are promising a disruption to the way we store and transact value, they are also opening up whole new ways by which to steal value too! Although many digital asset thefts are caused by other common attack methods, most of which we discuss here, they are nevertheless proving to be an easier target for attackers to steal.

Digital Assets – Source: Shutterstock.com

This is evidenced by the huge $1.2 billion in cryptocurrency, which was stolen in the first quarter of 2019 alone. According to blockchain crime prevention company Ciphertrace, over $355 million was stolen from exchanges and infrastructure alone, a huge part of which was drained directly from user wallets and accounts.

Up to 57% of Attacks Make It Past Traditional Antivirus Software

This might be the most shocking statistic on our list, though it’s no revelation to cybersecurity experts that over half of all attacks make it past antivirus software. The reason for this is that most antivirus software, no matter how sophisticated it is, can only identify threats it has some prior knowledge of.

When a new threat emerges, which carries none of the hallmarks of a previously deployed exploit, it’s incredibly difficult for antivirus software to detect – so difficult, that only 43% of exploits are stopped. However, new technologies such as artificial intelligence and machine learning are helping to identify and stop new attacks as they emerge.

Mobile Threats See a Decrease From 2018

In 2019, more people access the web through their smartphones than through other devices, with 3.9 billion active mobile internet users. As a result, mobile attacks represent one of the most problematic forms of a cyber attack, usually deployed when a user downloads an app loaded with malware.

Mobile Threats

Despite this, the first quarter of 2019 saw a marked decrease in malicious installation packages from mobile users, down from over 1 million in Q1 2018, to just 905 thousand. While this may still seem high, a decrease of almost 100 thousand malicious installs is a big achievement for cybersecurity.

Local Government Agencies Are Falling Victim to More Attacks

Although 2018 saw a slight year-on-year decline in total cyber attacks, there has been a marked increase in ransomware attacks on local and regional governments. According to cybersecurity firm Recorded Future, in the first four months of 2019, there were 21 reported attacks against government agencies in the USA.

Government Agencies – Source: Shutterstock.com

Many of these attacks will take control of internal systems, access and withhold data, and request government agencies to pay the attackers a ransom in Bitcoin to restore control of systems. Only around 17% of these agencies actually pay the ransom, but some of the reported ransom demands are as high as $250,000.

Denial-of-service Attacks (DoS) See a Huge Increase

As the name suggests, denial-of-service techniques prevent users of a service from accessing a resource. This could either be a website or a piece of software. In this attack, hackers will usually launch multiple techniques to either deny service to an individual user, or to all users of a service through a ‘distributed denial-of-service’ or DDoS attack.

Denial of Service Attack

Often, as there’s no opportunity for hackers to steal information through these attacks, they are motivated through blackmail, activism, or revenge. According to Kaspersky, DDoS attacks are on the rise, increasing a huge 84% in the first quarter of 2019 from Q4 2018.

Beware of Cryptojacking!

Cryptocurrency mining is, in many cases, increasingly unprofitable except for large scale mining operations. This is mainly due to the huge electricity costs associated with running mining hardware. Imagine then, if there was some way of mining on someone else’s machine without them knowing?

Cryptojacking – Source: Shutterstock.com

Unfortunately, there is – it’s called ‘cryptojacking.’ A new cybersecurity threat, cryptojacking, uses the victim’s processing power to imperceptibly mine cryptocurrency. This can be through software-based mining malware, or even through website scripts. The ESET Cybersecurity Trends Report 2019, reports that cybercriminals made off with an estimated $2.5 billion in the first half of 2018, and this threat could get worse during 2019.

Increased Focus on Data Privacy and GDPR

Data privacy has been a huge focus in the last two years, ushering in wide antitrust movements following breaches such as Facebook’s Cambridge Analytica scandal, and numerous cybercrime-related breaches. In Europe, this has culminated in strict GDPR rules being enforced to protect user data.

Data Privacy and GDPR – Source: Shutterstock.com

The U.S. hasn’t followed suit – yet. Sean Atkinson, Chief Information Security Officer for the Center for Internet Security, predicts that 2019 will be a year where greater accountability for data breaches will be at the front of lawmakers agenda, with the U.S. potentially following Europe’s lead on GDPR type regulation. But even with that in place, we always recommend using a good vpn service.

Cloud Computing Security

Over 50% of 786 business respondents who used cloud computing regularly, agreed that security risks were ‘somewhat of a challenge’ to their business processes, a report in January 2019 found. The compromise of cloud computing is on the rise, and with the average large company using 923 cloud-based services, this could be a serious problem.

Cloud Computing Security

Among the largest risks are loss and theft of intellectual property stored in the cloud, cloud services being used as a vector for data exfiltration, and malware delivery. Also, a real danger is employees uploading sensitive commercial data to the cloud, leaving the company with their access rights intact, and then using this data at a competitor firm – giving a new edge to corporate espionage.

Bypassing 2FA Authentication

Hot off the press last month is news that the FBI is now warning users that two-factor authentication, or 2FA, is not as secure as they think. In a press release on the 17th September 2019, FBI cyber division experts warned that attackers are using social engineering to trick users into bypassing 2FA.

Two Factor Authentication

By tricking users into opening phishing emails as we’ve discussed above, hackers can lift access tokens for legitimate websites. The FBI press-release cites one incident earlier this year where hackers gained access to a US banking service. Attackers logged in with stolen credentials and used a manipulated 2FA string to gain access and transfer funds from a victim’s account.

Formjacking Is Increasing

Formjacking occurs when attackers use HTML code to take over certain sections of a website, usually at the point where users are entering identity and payment credentials into a form, such as an e-commerce checkout.

Cybersecurity giant Symantec reported that an average of 4,800 websites are compromised through formjacking each month. The number of formjacking attacks increased dramatically towards the end of 2018, in which Symantec researchers correlated with a drop in the value of cryptocurrencies. Security experts believed that attackers previously using cryptojacking attacks instead turned to formjacking to make more profit.

Google Project Zero Regularly ‘zeroes’ in on New Threats

Let’s end our list on a positive note. For all the malicious attacks which take place, there are plenty of benevolent ‘white hat hackers’ who are working to fix and prevent attacks compromising our computing systems.

Google Project Zero was established in 2014 to prevent hackers from exploiting vulnerabilities on the same day or soon after they are found – something known as ‘zero-day attacks.’ Remember, we discussed how antivirus software doesn’t have signatures for viruses and malware which have never been seen before? These are a great example of zero-day attacks.

In an update shared in May 2019, computer security expert Ben Hawkes shared how new exploits ‘in the wild’ are discovered every 17 days on average. Most software vendors or computing engineers will take around 15 days to patch vulnerabilities being exploited by attackers.

The good news is that researchers at Google are tracking these exploits, to help understand how attackers behave in real-world situations and discover what their capabilities are. By building databases of these exploits, cybersecurity experts can build more advanced tools to stop attackers before they strike – and the more they find, the safer our cybersecurity landscape in 2020 will be.

References

Top 15 Cybersecurity Trends for 2019 was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

Source: https://blokt.com/guides/top-15-cybersecurity-trends-for-2019

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Bitcoin Breaks 2017 ATH But Gets Rejected: The Crypto Weekly Market Update

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To say that this week was interesting would be an understatement. It had a little bit of everything.

Starting off, towards the beginning of the week, Bitcoin officially surged past its 2017 high and recorded a new all-time high, clocking at almost $20,000 but couldn’t really manage to surge past that point.

Naturally, as it always happens with the primary cryptocurrency, things took a turn for the exact opposite of what many were expecting. The price took a beating ad dropped to the low $18,000s in a matter of hours. This resulted in around $800 million worth of liquidations in less than 24 hours.

The bulls weren’t finished, however. They intercepted the move, and the price started recovering. At the time of this writing, Bitcoin is trading around $19,000, and it’s interesting to see where it would take from here.

Elsewhere, there was quite a bit of positive news throughout the entire week. Just yesterday, the audio streaming giant Spotify posted a job opening that revealed that it’s contemplating cryptocurrencies for payments. The acting Comptroller of the Currency in the US, Brian Brooks, said that banning crypto is not part of the country’s plans, reassuring that positive news will follow by the end of Trump’s term.

Unfortunately, the week also presented us with some bad news. As CryptoPotato reported, a large Australian exchange accidentally exposed over 270,000 customer emails in a serious privacy breach. This is not the first time an incident of this kind happens as in late 2019, BitMEX went through something similar.

In any case, the overall sentiment within the community remains overly positive. In fact, a cryptocurrency sentiment survey conducted by Kraken revealed that investors hold that Bitcoin will hit $36,000 in 2021. Will it happen? Only time will tell.

Market Data

Market Cap: $562B | 24H Vol: 139B | BTC Dominance: 62.7%

BTC: $18,915 (+13.03%) | ETH: $587.46 (+16.13%) | XRP: $0.56 (+5.61%)

Audio Streaming Mogul Spotify Considering Cryptocurrency Payments. The popular audio streaming mogul Spotify has posted a job opening that reveals its intention to potentially incorporate bitcoin and other cryptocurrencies as a means of payment. With this, Spotify follows a group of major corporations that are putting effort towards implementing digital assets in their ecosystems.

Bullish Indicator to Buy Bitcoin Has Flashed Yet Again After 5 Months. The majorly bullish indicator has flashed green once again after five months. The Hash Ribbons, as it’s referred to, preceded BTC’s rallies to $10,500 in April and the run-up to $12,500 in August. It’s interesting to see if it will be correct again and if BTC will produce yet another leg up, taking it above $20,000.

Bitcoin Arrives At Wall Street: Crypto Indexes To Be Launched in 2021 By S&P Dow Jones Indices. In another news of serious cryptocurrency adoption, the leading index provider S&P Dow Jones Indices has revealed a partnership with the crypto-based Lukka to launch cryptocurrency indexes that follow 550 of the leading coins.

Bitcoin Price to Hit $36,000 in 2021: Kraken Crypto Sentiment Survey. According to a recent sentiment survey conducted by the popular cryptocurrency exchange Kraken, a majority of the respondents believe that Bitcoin will hit $36,000 in 2021. The same also think that Ether will clock in at a price of around $1450.

Visa Partners With Circle to Integrate USDC for Payments. The payment processing giant Visa has partnered up with Circle with the intention to integrate the USDC stablecoin within its network of merchants. The report also shared that 25 other companies involved in Visa’s Fast Track program would be included in the collaboration.

Australian Crypto Exchange Accidentally Exposes Over 270,000 Customer Emails. In what seems like another serious privacy breach, an Australian cryptocurrency exchange has accidentally exposed over 270,000 customer emails. This follows another mistake of the kind that happened with BitMEX in late 2019.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Source: https://cryptopotato.com/bitcoin-breaks-2017-ath-but-gets-rejected-the-crypto-weekly-market-update/

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India Reportedly Plans to Tax Crypto Investors As Bitcoin Price and Trading Activities Soar

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Barely ten months after the Indian Supreme Court lifted the RBI’s ban on cryptocurrency transactions, fresh reports from yesterday revealed that the country’s tax authority is now keeping a close watch on crypto traders as Bitcoin’s price continues its bullish trend.

Taxing Crypto Gains

According to local media, the Indian Tax Department is already in possession of data belonging to investors who invested in Bitcoin or cryptocurrencies through banking channels before the RBI’s ban in 2018. 

This development is coming after data shows a tremendous increase in crypto trading activities in India. Since the crypto ban was lifted earlier this year, retail investors between the ages of 25 and 40 have been spending millions of dollars on crypto trading every day. 

Over $25 Million Daily

Two of India’s largest crypto trading platforms, Binance-acquired WazirX and CoinDCX, saw a significant increase in activities over the last six months. According to an earlier report, WazirX recorded a massive 125% increase in user signups in the last two quarters. The exchange also has a daily trading volume of $19-26 million, with more than 85% of the transaction coming from Indian traders. 

Some experts believe it will be difficult for the country to tax crypto because there’s no regulation in place for crypto dealings. They feel a regulatory framework will provide the needed clarity to make taxation easier. While India is yet to release its crypto regulation, an earlier report suggests that the country may regulate crypto as commodities.

Declaring Bitcoin Profits As Capital Gains

Although it is unclear how India plans to implement the tax law, sources familiar with the matter claimed that the country’s taxman is already preparing to collect tax on the gains made from Bitcoin. And notice may be sent out to investors if “something goes out of this.”

Experts believe that the tax authorities may classify crypto gains as business income, and investors may have to pay up to 30% tax on profits made from selling cryptocurrencies. 

However, some tax experts are advising their clients to declare their Bitcoin earnings as capital gains, which is similar to profits generated from shares.

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PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

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Source: https://cryptopotato.com/india-reportedly-plans-to-tax-crypto-investors-as-bitcoin-price-and-trading-activities-soar/

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Bitcoin Breaks 2017 ATH But Gets Rejected: The Crypto Weekly Market Update

Avatar

Published

on

To say that this week was interesting would be an understatement. It had a little bit of everything.

Starting off, towards the beginning of the week, Bitcoin officially surged past its 2017 high and recorded a new all-time high, clocking at almost $20,000 but couldn’t really manage to surge past that point.

Naturally, as it always happens with the primary cryptocurrency, things took a turn for the exact opposite of what many were expecting. The price took a beating ad dropped to the low $18,000s in a matter of hours. This resulted in around $800 million worth of liquidations in less than 24 hours.

The bulls weren’t finished, however. They intercepted the move, and the price started recovering. At the time of this writing, Bitcoin is trading around $19,000, and it’s interesting to see where it would take from here.

Elsewhere, there was quite a bit of positive news throughout the entire week. Just yesterday, the audio streaming giant Spotify posted a job opening that revealed that it’s contemplating cryptocurrencies for payments. The acting Comptroller of the Currency in the US, Brian Brooks, said that banning crypto is not part of the country’s plans, reassuring that positive news will follow by the end of Trump’s term.

Unfortunately, the week also presented us with some bad news. As CryptoPotato reported, a large Australian exchange accidentally exposed over 270,000 customer emails in a serious privacy breach. This is not the first time an incident of this kind happens as in late 2019, BitMEX went through something similar.

In any case, the overall sentiment within the community remains overly positive. In fact, a cryptocurrency sentiment survey conducted by Kraken revealed that investors hold that Bitcoin will hit $36,000 in 2021. Will it happen? Only time will tell.

Market Data

Market Cap: $562B | 24H Vol: 139B | BTC Dominance: 62.7%

BTC: $18,915 (+13.03%) | ETH: $587.46 (+16.13%) | XRP: $0.56 (+5.61%)

Audio Streaming Mogul Spotify Considering Cryptocurrency Payments. The popular audio streaming mogul Spotify has posted a job opening that reveals its intention to potentially incorporate bitcoin and other cryptocurrencies as a means of payment. With this, Spotify follows a group of major corporations that are putting effort towards implementing digital assets in their ecosystems.

Bullish Indicator to Buy Bitcoin Has Flashed Yet Again After 5 Months. The majorly bullish indicator has flashed green once again after five months. The Hash Ribbons, as it’s referred to, preceded BTC’s rallies to $10,500 in April and the run-up to $12,500 in August. It’s interesting to see if it will be correct again and if BTC will produce yet another leg up, taking it above $20,000.

Bitcoin Arrives At Wall Street: Crypto Indexes To Be Launched in 2021 By S&P Dow Jones Indices. In another news of serious cryptocurrency adoption, the leading index provider S&P Dow Jones Indices has revealed a partnership with the crypto-based Lukka to launch cryptocurrency indexes that follow 550 of the leading coins.

Bitcoin Price to Hit $36,000 in 2021: Kraken Crypto Sentiment Survey. According to a recent sentiment survey conducted by the popular cryptocurrency exchange Kraken, a majority of the respondents believe that Bitcoin will hit $36,000 in 2021. The same also think that Ether will clock in at a price of around $1450.

Visa Partners With Circle to Integrate USDC for Payments. The payment processing giant Visa has partnered up with Circle with the intention to integrate the USDC stablecoin within its network of merchants. The report also shared that 25 other companies involved in Visa’s Fast Track program would be included in the collaboration.

Australian Crypto Exchange Accidentally Exposes Over 270,000 Customer Emails. In what seems like another serious privacy breach, an Australian cryptocurrency exchange has accidentally exposed over 270,000 customer emails. This follows another mistake of the kind that happened with BitMEX in late 2019.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin – click here for the full price analysis.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

You Might Also Like:


Source: https://cryptopotato.com/bitcoin-breaks-2017-ath-but-gets-rejected-the-crypto-weekly-market-update/

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