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Cryptomining looks to topple ransomware as top threat to businesses

(Image credit: Image Credit: Welcomia / Shutterstock)

Businesses around the world are still facing a huge threat from multiple forms of spyware, new research has claimed.

A new report by Malwarebytes claims there have been 80,000 spyware detections between January and March 2018. However, other methods are gaining popularity, as well. Cryptomining, a process where cybercriminals use the victim's machines to mine cryptocurrency, has seen an increase in detections of 27 per cent, for the same period of time. Ransomware is also up, 28 per cent.

“Malicious cryptomining has increased dramatically in the last few months, while virtually all other malware is on the decline,” the report says.

“Even though adware retained its position as our number one consumer detection, it did so only by the skin of its teeth, as malware-based cryptomining is now nipping at its heels in the number two spot. In addition, detections of cryptomining malware for businesses increased by 27 percent over last quarter, bringing it up to the second-highest overall threat detection for businesses this quarter.”

Malwarebytes has used the opportunity to launch a new product that aims to solve this problem. Called Malwarebytes Endpoint Protection and Response, the company says it “cuts through complexity, simplifies endpoint monitoring and detection, and makes remediation easy.” 

“Many businesses don’t have the resources to bring on dedicated, highly-specialised EDR technology and talent, leaving them with a tool that simply adds to a long queue of alerts, without fixing the underlying problems,” said Marcin Kleczynski, Malwarebytes CEO.

"Endpoint Protection and Response provides proven endpoint protection with integrated detection and response capabilities via a single agent, so organisations of all sizes can easily protect their endpoints from targeted attacks, thoroughly remediate systems and rollback ransomware.”

Image Credit: Welcomia / Shutterstock

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.