Malicious IoT Botnet Activity Has Sharply Increased

Malicious IoT Botnet Activity Has Sharply Increased

The latest Nokia Threat Intelligence Report has found that IoT botnet DDoS traffic, originating from a large number of insecure IoT devices, increased fivefold over the past year. The spike in the activity is following Russia’s invasion of Ukraine and stems from the growing increase in profit-driven hacking collectives operated by cybercriminals.

This sharp increase, also supplemented by the increased use of IoT devices by consumers around the world, was first noticed at the beginning of the Russia-Ukraine conflict but has since spread to other parts of the world, with botnet-driven DDoS attacks being used to disrupt telecom networks as well as other critical infrastructure and services. The number of IoT devices (bots) engaged in botnet-driven DDoS attacks rose from around 200,000 a year ago to approximately 1 million devices, generating more than 40% of all DDoS traffic today. The most common malware in telecommunication networks was found to be a bot malware that scans vulnerable devices, a tactic associated with a variety of IoT botnets. There are billions of IoT devices worldwide, ranging from smart refrigerators, medical sensors, and smartwatches; many of which have lax security protections.

The Threat Intelligence Report also found that the number of trojans targeting personal banking information in mobile devices has doubled to 9%, putting millions of users around the world at heightened risk of having their personal financial and credit card information stolen. The report, however, did find some encouraging news, showing that malware infections in home networks declined from a Covid-high of 3% to 1.5%, close to the pre-pandemic level of 1%, as malware campaigns targeting the wave of at-home workers tapered off, and more people returned to office work environments.

“The key findings in this report underline both the scale and sophistication of cybercriminal activity today. A single botnet DDoS attack can involve hundreds of thousands of IoT devices, representing a significant threat to networks globally. To mitigate the risks, it’s essential that service providers, vendors, and regulators work to develop more robust 5G network security measures, including implementing telco-centric threat detection and response, as well as robust security practices and awareness at all company levels,“ said Hamdy Farid, Senior Vice President for Business Applications at Nokia.