Computers & Laptops

2020 most profitable year for hackers: Subex report

Our Bureau Bengaluru | Updated on September 10, 2020 Published on September 10, 2020

Manufacturing and utilities continue to draw a huge volume of attacks.   -  Getty Images/iStockphoto

Covid-19 themed attacks continue to be used by hacker groups to make quick money

The year 2020 has been the most profitable year for hackers so far and state-backed hacker groups have started monetising cyberattacks as funding from state coffers has started thinning.

Subex, which released its ‘Q2FY21 Threat Landscape Report’, revealed “In the absence of funding, more hackers are now seeking ransom than ever before and Covid-19 themed attacks continue to be used mostly by new and amateur hacker groups as a means of making quick money.”

Cyberattacks motivated by geopolitical goals have reduced a bit globally as most of the groups involved have started using their capabilities to collect Bitcoins in ransom.

Such groups’ ability to stay afloat and operate freely continues to be a matter of concern as they possess the most sophisticated tools and talent in addition to geopolitical grievances.

“These groups will bounce back when state funding becomes available while making these sophisticated tools and malware available to others,” the report mentioned.

Key findings

The most significant findings include:

* Where is the data? Plenty of Intellectual Property data and confidential information stolen by hackers throughout the year has still not appeared on the Darkweb and other places.

* Intercepted chatter indicates the prevalence of cyberattack playbooks, which are constantly updated.

* New investments observed in establishing botnets in countries with reasonable internet speeds but with lax cybersecurity monitoring and legal enforcement norms.

* The Covid-induced recession has not slowed down cyberattacks. If anything, it has emboldened the hackers.

* Manufacturing and utilities continue to draw a huge volume of attacks.

Vinod Kumar, Managing Director & CEO, Subex, said, “These findings indicate that the cyber pandemic that was unleashed in the wake of Covid-19 continues to shape the overall threat sentiment in cyberspace.”

“We continue to alert customers, agencies, authorities, partners, and other stakeholders on the impact of these forces on their cybersecurity posture,” he added.

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Published on September 10, 2020
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