Google warns cryptocurrency miners are hacking cloud accounts, suggests ways to counter cyber threat

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The biggest threat plaguing cyberspace though, is one that’s trying to make the most out of today’s big buzzword, aka cryptocurrency. (Reuters Image)

Global search engine giant Google has revealed that hackers are increasingly targeting compromised cloud accounts to mine cryptocurrency. The revelation is part of a new report from Google’s in-house cybersecurity action team.

Google’s cybersecurity team, which spots cyber threats and gives advice on how to tackle them, has come out with a report called “threat horizon” that sheds light on multiple threats currently looming in cyberspace.

As per the report, Russian state hackers have been attempting to dupe users into giving away their passwords on the pretence that they were being targeted by government-backed attackers. In North Korea, hackers have been trying to lure users with fraudulent job offers from big-ticket firms like Samsung.

Crypto miners hacking Google cloud accounts

The biggest threat plaguing cyberspace though, is one that’s trying to make the most out of today’s big buzzword, aka cryptocurrency.

Since “mining” blockchains that underpin cryptocurrencies require a significant amount of computing power and expensive software, 86 per cent of the cloud computing hacks are said to be used to perform cryptocurrency mining.

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The cryptocurrency mining software area is downloaded within 22 seconds after the cloud account has been hacked. Cyber-attackers take advantage of vulnerable third-party software and poor customer security to perform the hacks.

Other forms of cyber threat

The Google report says in one instance 12,000 Gmail accounts were targeted by the Russian government-backed hacking group APT28, also known as Fancy Bear, where users were tricked into handing over their user details through email.

Google says the attack was neutralised after all the phishing emails were blocked –’which focused on the UK, the US and India-and no users’ details had been compromised.’

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