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Why cryptomining is the new ransomware, and businesses must prepare for it

Cyber-currency-bitcoin

For years, ransomware has been the bane of the enterprise, with cyber criminals literally holding data hostage unless a ransom is paid.

Some verticals in the enterprise can breathe a sigh of relief, however, because now there is less ransomware in play, but individuals and small businesses are the newest target as cryptomining becomes the hottest trend in cyber attacks.

Craig Williams, director of outreach for Cisco Talos, addressed the trend at Cisco Live 2018, noting that "people are backing off from ransomware. It's a super high risk. A lot of people aren't paying."

SEE: Information security incident reporting policy (Tech Pro Research)

Cryptomining is rising up to take the place of ransomware, and if cyber crime could be considered trendy, crypto mining is Cardi B, Drake and Taylor Swift rolled into one.

"Cryptomining is not considered as heinous [as ransomware] by the FBI. They don't pursue it as aggressively. And let's be honest, it's significantly less damaging,"...(continued)

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