Google Reveals Latest Tactics Hackers Employ To Mine Crypto

In its recent Threat Horizon Report, Google has revealed the latest strategy being employed by hackers. According to the publication, these hackers unlawfully gain access to cloud accounts in order to mine cryptocurrency.

Google Publishes New Crypto Hacking Method

According to the report, the actors hack vulnerable Cloud accounts, and mine crypto from within. The report also shows that in a recent study of about 50 cases of hacked accounts, 86% of them revealed hackers using the accounts to mine cryptocurrencies.

Google also revealed that the essence of the publication by the Google Cybersecurity Action Team is to sound a note of warning to organizations such that they can be on alert, and also keep their cloud environments safely secured.

As it were, the Cloud hack is not the only cyberthreat identified in the report, others include spamming, malware, DDoS attacks, and hosting unauthorized content on the internet.

Crypto Hacks On The Rise

Just last month, TheCoinrise reported that nearly $5.2 Billion in Bitcoin ($BTC) have been made in payments relating to ransomware attacks.

In the same month of October, there were reports of a similar warning from Google, with the firm alerting of hackers gaining access into YouTube accounts to spread crypto-related scams.

At the time, Google explained that after gaining access to the victims’ YouTube accounts, the hackers totally change the contents to crypto-related ones or mirror well-known public profiles like those of cryptocurrency exchanges or large tech firms.

This new wave of crypto scams then live-stream videos from the hacked accounts,  promising crypto giveaways in exchange for contributions. According to Google, the hackers have been found to be Russian speakers,

One thing remains clear however, hackers are on a prowl at the moment, and warnings like this one from Google, are just necessary to keep everyone in the business of crypto, security-conscious.