According to a report from SonicWall, global malware volume has increased 2% year-over-year, but it was the jump in IoT malware (+87%) and crypto-jacking (+43%) that offset the decline of overall global ransomware volume (-21%), that signified a strategic shift. Threat actors have embraced slower and more stealthy approaches to achieve financially motivated cyberattacks. “Cyberattacks are an ever-present danger for companies of all sizes, putting their operations and reputation on the line,” said SonicWall Threat Detection and Response Strategist Immanuel Chavoya. “It is crucial for organizations to understand attackers’ tactics, techniques, and procedures (TTPs), and commit to threat-informed cybersecurity strategies to defend and recover successfully from business-disrupting events. This includes stopping sophisticated ransomware attacks as well as defending emerging threat vectors, including IoT and crypto-jacking,” Chavoya added. In addition to cyberattacks becoming more sophisticated and covert, threat actors are showing clear preferences for certain techniques, with notable shifts toward weak IoT devices, crypto-jacking, and potentially soft targets like schools and hospitals. Prominent ransomware attacks impacted enterprises, governments, airlines, hospitals, hotels, and individuals, causing widespread system downtime, economic loss, and reputational damage. Following global trends, several industries faced large year-over-year increases in ransomware volume, including education (+275%), finance (+41%), and healthcare (+8%).
The first step to secure IoT devices is knowing what is connected. This includes using a device identification and discovery tool that automates three critical IoT security functions:
• Automatically and continuously detects, profiles, and classifies IoT devices on the network.
• Maintains a real-time inventory of devices.
• Provides relevant risk insights for each of these asset classes by continuously monitoring across attack vectors.
By following these industry best practices for IoT security and adopting leading-edge solutions, administrators can understand, manage, and secure asset inventory, including IoT.