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Home Finance

Mirai IoT Botnet: Mining for Bitcoins?

by Wilfred Shah
in Finance
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Introduction

With the advancement in science and technology, there are numerous revolutions taking place in the life of human beings in the world. All are being influenced by technology and are living artificial life. For example, we take the example of digital currency. It is a kind of artificial money that is making its place in the revolutionized world nowadays. All are fascinated by digital currency and want to buy some digital currencies for which there are a lot of platforms available allowing the person to acquire digital currencies like bitcoins, Ethereum, litecoin, dogecoins, etc. If you want to invest in bitcoins, you can start trading by visiting this website.

IoT Botnet

With the advancement in the field of science and the efforts being made for making the life of people more comfortable, there are a lot of threats in the cyber world that can cause harm to people and their lifestyles. Similarly, such problems are being witnessed in the crypto world too. There are a lot of hackers which try to hack the blockchain of the bitcoins to steal the bitcoins from the asset holders. Nowadays there is the problem with Mirai botnet malware which tries to attack the cyber world with new kinds of digital weapons. It was a type of malware that was developed to attack targeted people’s systems, especially the internet of things to grow a botnet that uses the system for the distributed denial of services i.e. (DDoS). There were a lot of web attacks launched with the help of this malware since the presence of this malware was found in 2016. It was found by the security research group named MalwareMustDie. Nowadays there are a lot of complaints in the crypto world about this malware because it is found that it has been upgraded which grows the botnet in the system to perform bitcoin mining. It is found that these types of attacks are being done to mine more and more bitcoins because people want a maximum number of bitcoins so that they can be rich and bitcoin is also a favorite for such attacks because it is the best form of cryptocurrency and it can be used for illegal works or buying of illegal assets such as weapons or digital weapons known as malware.

Mirai IoT Botnet

When the first time a new version of Mirai malware was found which was growing a botnet for the mining of bitcoins the number of victims was small but with the passage of very less time it increased by 50% which made it noticeable and it was found that it has similar working like Mirai malware for the windows version which was more focused on the attack on the Linux machines using telnet because telnet was an easy way or gateway for the attackers to go through the system. In the new mining Mirai Malware, it is found that it uses IoT devices for the mining of bitcoins. However, the mining of bitcoins from the IoT devices was a very slow process but it was a big threat because it can be used to make all the IoT devices work together for the mining purpose.

However, if these kinds of threats keep increasing it will be difficult for mankind. We all have to make sure that all IoT devices are made more safely so that they do not turn into DDoS botnets as if the attackers get successful in the mining purpose then it will be very difficult in the coming world to stop them from malicious activities and it could only be the start towards the world full of cybercrimes and malware affecting not only IoTs but all other systems.

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Wilfred Shah

Wilfred Shah

Senior Editor

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