There was a time when all what the company needs to do is- lock their doors, install cameras and safe-lock the documentation. However, the changing time brought us challenging security threats. Internet of things changing the way we live and do business around the world. But the rising concerns about the security threats are the major road blocks for the future.

Before we go into detail, what is IoT? and how IOT devices can be hacked easily? I0T abbreviated internet of things– various physical objects or computer devices are connected via their IP address, which is basically used for internet connectivity (Smart door locks, padlocks, thermostats, refrigerators, wheelchairs and solar panel arrays). It includes embedded technology, which is used for exchanging data with different devices.

Verizon and ABI Research tells us that there were 1.2 billion different devices connected to the internet last year, but by 2020, they expect as many as 5.4 billion B2B IoT connections.

In case if you are new to this topic, it’s a fact that percentage of personal identities stolen all over the world is increasing each year. In technerd term, Cyber attack is a serious matter now. Everything and everyone are hackable in this present world, none of us safe for 100%. Smart phones, wearables and smart home devices are the major target in this case.

There is, however, much more threat to the IOT world, then to the specific tech companies. We have compiled here, 10 biggest IOT security threats of the future, that you need to worry about.

Top 10 IoT Security Threats

1. Ransomware

There are some good reasons for putting ransomware on the top of our IoT threat list. Ransomware is a dangerous malware that enters the computer system and blocks user access means you won’t be able to run any app including the web browser. It blocks you from accessing your mainframe. Additionally, it also attacks your cloud-based data and encrypts it, means the data becomes concealed or inaccessible.

A single DDoS attack can cost a company over $1.6 million, though that figure depends to a large extent on how quickly the attack is detected, according to the Corporate IT Security Risks 2016.

IT heads at over 500 companies in four countries, and found that more than one-third of the ransomware victims lost revenue as a result of the attack.

One of the ransomware variant –Anubis, encrypts file and the algorithm causes a ransom note to appear on desktop. Another exclusively found variant is Enigma2, which is especially designed for Russian victims, the ransom note encrypts file and should text in ransom language. The victim is needed to deposit around $280 for decryption.

2. DDoS

Recently a DNS providing company- DYN, was attacked with DDoS hacking technique by unknown hackers, DYN company server connects different URL to varying IP address, and attack made the server unavailable to the users. This resulted to shutdown of the major sites like Reddit, twitter, pinterest, Basecamp,Imgur, tumblr, etc.

A single DDoS attack can cost a company over $1.6 million, though that figure depends to a large extent on how quickly the attack is detected, according to the Corporate IT Security Risks 2016.

What is DDOS mean and how does it works? Denial of Service attack is suspicious malicious software. It doesn’t attack directly on the system; instead, it floods a specific server over the limit. As a result, the resource becomes unavailable to the intended users.

“Even a single DDoS attack can disable the online services for long periods of time, damage the company’s reputation and deprive it of its current or future customers,” said Alexey Kiselev, project manager on the Kaspersky DDoS Protection team.

This temporary traffic outburst on the server suspends the connected device from accessing the page. Also, DDOS doesn’t affect the resource instantly, rather the continuous Trojan infected requests are bombarded to a web page until it gets overloaded with traffic and fails to process.

3. Mobile Malware

There is a malware specifically designed to damage the mobile systems / connected with it, including tablets, smart phones, smart home devices or more specifically, personal digital assistants.

This malware enters the device via the wireless-enabled network and collapses the gadget, once the mobile system gets disabled; attacker is able to remotely drain the confidential info.

According to McAfee blog, Malware aimed at Android smartphones alone has grown 76% over the couple of year, threatening Android security, and other platforms are also coming under attack.

IOT devices and mobile apps are inseparable now, and without apps there you could not able to access any smart home devices. So it’s easier opportunity for the hackers to access your Alexa or Nest home devices from your Wi-Fi. So the mobile malwares are definitely a watcher in our top 10 IOT threat list of 2016.

iot security threat

4. Spyware

Third party damaging software- spyware is a unique malware that attacks the computer system without user’s knowledge and fetches away the data. Spyware damages both the computer system and the connected to the devices; confidential info gets secretly leaked from the system.

The Federal Trade Commission estimates that 27.3 million Americans have been victims of identity theft, and that financial losses from identity theft.

History of spyware threats suggests that the spyware damage is much more common as compared to other threats. Additionally, Russian federation was previously attacked with powerful spyware- Turla and Agent.BITZ causing malicious effects.

5. IOT Botnet

The botnet is another type of malware, which is a threat to a group of system, instead the individual computer or smartphone connected devices.

Aidra was discovered infecting more than 30,000 embedded Linux devices in an audacious and ethically questionable research project that infected more than 420,000 Internet-connected devices in an attempt to measure the security of the global network.

A botnet can swiftly travel through the internet, modems and routers, which is why is it is able to target multiple users. Hackers use the botnet for getting connected to the system and get the confidential data secretly. One of the famous botnet – Mirai is designed to hijack the internet connected devices without any detection.

6. Phishing

Phishing is another major security threat with the less fancy name, but more dangerous effects. It’s a technique used to bait people via the mail or instant messages and get their personal info including the confidential usernames and passwords.

In most cases, a trap-link is added in the mail, this mail takes the user directly to another web page infected with malware, and from there it enters into the computer system. Hackers usually use banking or service administrator as their identity or more specifically a lure for you. There are many companies in both the public and private sector around the globe, facing phishing as a serious security threat.

iot security threat

7. Black Hat Hacking

Of all the listed threats black hat hacking technique is the most malicious. Hacker attacks the system via the network and takes full control over the device. The result would be bulk data loss.

Security breaching hackers are usually computer professional with extremely high knowledge of computer and its languages. They infect the computer system for baiting or protest.

Recently hacked account suggest how malicious security hacking is, It is the Podesta Gmail account hack– john podesta and Clinton campaign was manipulated by the email hack.

According to the smoking gun reports, a fake alert was sent to podesta mail telling that someone accessed your account from another location and asked to secure his account by changing credible details. After this, he provided the details directly to the hackers and they were then able to log into the account. Additionally, this is not the first time hackers targeted a high profile, previously FBI directors are also baited with security hacking.

8. Trojan Horse

One of the much known virus around the world, and affected more than 50 million computer and mobile devices in past several years. Trojan horse virus does not seem much dangerous virus, but it has long lasting impact on the computer systems. Unlike another virus Trojan horse does not have a replicating property. It can, however, easily enter the system via a normal mail copy.

According to a survey conducted by BitDefender, “Trojan-type malware is on the rise, accounting for 83-percent of the global malware detected in the world.”

How to Know when Trojan horse attack- The settings start to change automatically. It is hidden inside the downloadable copies and is malicious to the computer systems. Furthermore, it directly executes the task on the system. Additionally, it can be prevented with the up-to-date antivirus and careful downloads.

9. Keystroke Logging

Keystroke logging, also known as keyboard, touch-pad, finger touch access, is a malicious technique used by the hackers. This software is hidden and no antivirus can detect it on the computer. This software stores all the data in encrypted form. It stores whatever you type on the device including the usernames, passwords, and any other confidential info.

This is the reason now a days we need use OTP (One Time Password) or security authentication to enter to access your online banking account.

Russian special services still use typewriters, because of keystroke Trojan bugs.

Further, an attacker can easily get access to the encrypted personal data by just logging into it. It hands over the attacker, full flagged data entered on the device- from the software activation date. Which is a worst nightmare for your normal life. So, this risk has to be in our Iot security threats in the future.

10. Cloud Attacks

Cloud is everything nowadays! There are no physical servers anymore. Future is totally depend on cloud server and it’s no exception from hacking.

In 2016, Apple’s iCloud security features broken by the unknown hackers and many high profile celebrity privacy affected. This could be a perfect example for IOT devices which are connected to the clouds.

There are malware specifically built for attacking cloud based system. Though, cloud has the potential for good security, the unmanaged clouds are becoming like the open doors for the hackers. Managing cloud can act as simple yet powerful move to save the system. Additionally, the cloud networks can get attackers easy access to cloud compromised apps. With availability to insecure API, cloud attack can cause Data loss and traffic hijacking.

Ending words

With that being said, many companies including Apple, Samsung, Google, are developing apps and software to make tech secure. But, none of them are able to provide a solid protection over such things; even the home automation system is not safe from the malicious DGA and other hacking techniques.

Various malware can enter your new smart home system and take over the control remotely. They can access your private information’s and even your identity if you are not careful enough. Other threats including the keyword logging, phishing, etc, can easily enter-damage your systems without your knowledge.

You unknowingly share the info either by a single click over the page, allowing a malware to enter your computer, or by typing the confidential keywords. So better buy smart devices for your home when you really confident enough to rectify the hurdles on the way to the future!

 

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