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'Cryptojacking' in Financial Sector Has Risen 269% This Year, SonicWall Says

Oliver Knight - CoinDesk
2022-07-26 11:27

The number of "cryptojacking" cases across the financial sector has risen by 269% in the first half of 2022, according to a report by cybersecurity firm SonicWall.

  • Cryptojacking is a type of cyberattack where hackers implant a piece of software on a victim's computer that mine cryptocurrencies. Victims are often unaware of the exploit, which has contributed to the rise in cases, the report said.
  • In previous years, government, healthcare and education sectors were the most common targets for cryptojacking, however there has been a "dramatic reshuffling" in 2022.
  • "Cryptojacking targeting the retail industry increased 63% year-to-date, while attacks on the financial industry skyrocketed 269%," the report states.
  • The number of attacks on the finance industry is now five times greater than retail, which is second highest.
  • The rise has also been attributed to a decline in ransomware attacks, which is also caused by increased interest of cryptocurrency-related cyberattacks coupled with more stringent insurance processes around ransomware.
  • “It [cryptojacking] has a lower potential of being detected by the victim; unsuspecting users across the world see their devices get unaccountably slower, but it’s hard to tie it to criminal activity, much less point to the source,” Terry Greer-King, SonicWall vice president for EMEA, told Tech Monitor.
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