IoT-Centric Cyber-attacks are Rapidly Increasing

IoT-Centric Cyber-attacks are Rapidly Increasing

Cybercriminals are taking advantage of this uncertain market ecosystem by targeting IoT devices across industries

Threat actors are taking the advantage of this rapidly fluctuating digital marketplace with cyber-attacks against online solutions. Currently, the attacks on IoT devices are on the rise – which is setting the IT environment at an alarming rate. With most of the enterprises operating remotely in 2021, poor security protections are inevitable.

Cybercriminals use automated tools like never before to exploit these vulnerabilities. A recent research study by Nokia indicated that IoT devices are the “most infected” as of now. The IoT or the internet-connected solutions account for nearly 33% of all the infected devices – this is up by nearly 16% from last year.

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These outcomes are based on the data gathered from observing global network traffic on over 150 million tools. The hurried implementation of IoT into smart home security monitoring systems, medical devices, drones, etc. is most likely to continue growing as we advance.

In the networks where smart applications are repeatedly assigned public-facing IP addresses, in most cases a high infection rate is found. Yet again, in the case of systems where the carrier-grade network address translation (NAT) is in function, the infection rate is less.

This is certainly due to the fact that vulnerable tools are not detectable upon network scanning. More businesses and customers are geared up to make the most with this ultra-low latency, high bandwidth, and fundamentally modern digital networking capabilities – enabled by 5G.

On the contrary, the success rate of these infecting IoT devices is totally dependent on the visibility of advanced solutions on the internet. Indeed, the malicious actors are benefiting from the present, uncertain marketplace – as they treat it as a prime time to uphold their tricky agendas.

As explained by Bhaskar Gorti, President and Chief Digital Officer at Nokia in the company blog post – “The sweeping changes that are taking place in the 5G ecosystem, with even more 5G networks being deployed around the world as we move to 2021, open ample opportunities for malicious actors to take advantage of vulnerabilities in IoT devices.”

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In fact, cybercriminals today are using this unprecedented situation to take control of user data via different types of malware. Most hackers even target the applications to plant malware in the victims’ systems to exploit their data and sensitive information.

Consequently, security experts from Nokia suggest users install apps only from the trusted, verified app stores – such as Play Store and App Store. Given the current scenario, there is a significant need for organizations and consumers to level up their cyber-security practices and measures. Besides, it is legitimate for the IoT device producers – in order to stay up and running amid the economic turmoil.

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