Top Cyber Threats of 2024: 12 Things to Look Out For

Malware, short for 'malicious software', remains a persistent threat in the cyber world. It's an umbrella term for various harmful software types, including ransomware, viruses, spyware, and trojans. These are designed to sneak into and harm digital systems. Although malware isn't a new threat, its evolving tactics remain a significant challenge for cybersecurity defenses.

Hackers typically introduce malware through links that seem harmless. However, once clicked, these links install the malicious software, which then spreads rapidly across networks. This risk has become even more pronounced with the rise of remote work, as personal devices are often used for work-related tasks. In a PC Matic survey, it was revealed that 60% of remote workers use their personal devices, yet alarmingly, only 9% of these devices are protected by antivirus software.

The signs of malware infection are subtle yet telling – slow computer performance, unusual data consumption, unexpected file modifications, or unsolicited messages sent from your device. Recognizing these indicators is crucial for timely intervention and safeguarding your digital environment against this prevalent threat.

When it comes to setting up security systems, even experts can slip up. It turns out, most setups probably have at least one thing off with the software configuration. Rapid7, a cybersecurity firm, conducted this study where they ran 268 tests, and guess what? In 80% of these external penetration tests, they found a misconfiguration that could be exploited. And it gets more intense – when they simulated an attack from inside the system to predict what would happen if someone sneaked in physically or through a third party, the number of these slip-ups jumped to 96%.

Fast forward to 2024, and things are looking a bit more complicated. We're still grappling with the aftermath of COVID-19, not to mention all the socio-political shake-ups and financial pressures. All this ongoing stress is making it even more probable for employees to make mistakes at work, which, unfortunately, creates more exploitable opportunities for cybercriminals.

Ransomware stands as a particularly harmful variant of malware, relying on the tactic of blackmail. The method involves denying users access to their personal files, with threats to either release the data to the public or annihilate it forever, unless a ransom is paid. The frequency of this digital offense has escalated worryingly, with the simple act of clicking on a hyperlink or downloading a file leading to the illegitimate takeover of a user's computer.

For example, consider the substantial ransomware incidents that happened in 2021. The automotive giant Kia Motors was targeted by the DoppelPaymer cybercriminal collective, who demanded $20 million in Bitcoin to restore access to encrypted files.

Ransomware attacks can be circumvented and their impact mitigated through a combination of preventive measures and heightened cybersecurity awareness.

Cryptojacking stealthily taps into your computer's resources to mine for cryptocurrencies, such as Bitcoin and Ethereum. Although it may not represent an immediate threat, this hidden activity can lead to significant slowdowns in your device's performance. It operates under the radar, using your device's processing power without your consent and often going unnoticed until system performance is noticeably degraded.

This exploitation typically starts with cybercriminals sending phishing emails or devising other deceptions to lure you into clicking a malicious link. Once clicked, the link discreetly installs a cryptojacking script onto your device. High-profile cases have brought this issue to the forefront, such as the 2019 conviction of two hackers from the Bayrob Group, whose cryptojacking malware infected over 400,000 computers, leading to their 20-year prison sentences. What’s even more surprising is that Norton—a well-known antivirus provider—was found to install cryptomining software automatically with its product, blurring the lines between protection and exploitation.

To protect your devices from these hidden attacks, it's important to use strong security software that can spot and stop the harmful scripts. Also, make sure to keep your software current so that any weak spots can be fixed.

Computer viruses are harmful programs that can mess up your device. They work like human viruses in that they need to latch onto something—in this case, a file or document—to multiply and move on to other 'hosts' or computers.

Here's what happens: when a virus hooks onto a file or document, it might not do anything straight away. But once the right conditions hit, this nasty code wakes up and gets to work. It can then infect other files, spread to different computers, or even travel across entire business networks.

One recent troublemaker is the GoBrut virus, which pops up in new forms every so often. It's not the most complex virus out there, but it's stubborn. It tries to guess your passwords again and again, which can make your device sluggish.

Worms are a type of malware that can move and copy themselves across a network without needing to attach to any other programs or files. Think of them as independent pieces of code that wriggle into your system and can cause trouble all by themselves.

Here's the lowdown: usually, worms wrangle their way in through email attachments. Once they're inside, they make copies of themselves and send these duplicates off to everyone in the victim's email contact list. Cyber attackers love worms for more sinister tasks too, like bogging down servers by inundating them with traffic, leading to what's known as a distributed denial of service (DDoS) attack—which can take a whole network offline.

A notorious worm from the past that still makes the rounds is Mydoom, also called Novarg. Regarded as the fastest-spreading and the most damaging computer virus ever, Mydoom ripped through inboxes at lightning pace, culminating in damages worth $38 billion— $52 billion if you account for inflation.

Interestingly, it hasn't completely disappeared; it's still out there, responsible for a small but notable fraction of phishing emails. With less prevalence today, it serves as a reminder of the potential for widespread impact a worm can have, emphasizing the need for current security practices and vigilance against such self-propagating menaces.

Pharming is another method cybercriminals use to steal your login details by guiding you to fake webpages that look real. They usually go after your most sensitive information, like bank account credentials. There are two main ways they pull off this scam: by using malware and by poisoning the DNS cache.

With the malware method, you might be fooled into clicking on a link that you think will take you to your bank's website. Instead, it sends you to a fake site that's been set up just to steal your info. It looks legitimate enough that you might not question it.

DNS cache poisoning is even craftier. The hackers mess with your DNS server — that's the thing that translates website names into the digital addresses that computers use to find each other. They rig it so that when you type in your bank's web address, you're rerouted to their phony site without ever realizing it.

Pharming attacks often target banks because that's where the money is. Back in 2007, about 50 financial institutions across the globe got hit by a big pharming operation. More recently, in 2019, scammers hijacked a website meant to help Venezuelan volunteers. They twisted it into a tool for stealing personal information from the people just trying to do some good amid a humanitarian crisis. The takeaway? Always triple-check the links you click on and the URLs you enter, especially for sites asking for personal or financial details.

The Internet of Things (IoT) is booming with an expected 75 billion devices to be connected by 2025, according to Statista. It's not just about laptops and tablets anymore; this network sprawl extends to routers, webcams, home appliances, smartwatches, medical gadgets, factory machines, cars, and even security systems.

These connected gadgets are super convenient for us users, with businesses also jumping on the bandwagon to cut costs. They collect tons of data, which can reveal a lot of useful insights and make company operations smoother.

But here's the catch: the more devices hooking up to the IoT, the wider the door opens to cyber threats. Hackers can take over these devices and cause some serious trouble, like jamming network traffic or demanding money by holding crucial equipment hostage. It shows that as our world gets more interconnected, the stakes get higher when it comes to making sure everything is secure from digital troublemakers.

An SQL injection attack (SQLI) is what happens when hackers target websites that rely on databases, which is pretty typical for many online platforms today. They slip their own sneaky code into places where it shouldn't be—like online forms—to snatch money, mess with data, or wipe out digital footprints.

The nitty-gritty of how it goes down looks something like this: cybercriminals hunt down spots on a website where users can input information, such as contact or sign-up forms. These areas can be weak spots if not properly safeguarded. By planting harmful SQL commands in these fields, they can convince the website to execute these commands. This lets them tinker with the database from the inside, do stuff like siphon off sensitive data, and cause all sorts of digital havoc.

Take the infamous breach at 7-Eleven for example. Using an SQL injection, attackers managed to get their hands on credit card details of millions of customers. And they didn't stop there—they hit other big names like Heartland and Hannaford. The financial damage from these breaches? $300 million.

It's a stark reminder of why defending against such cyber threats isn't just smart; it's critical for any database-driven online presence. With sensitive user data often on the line, businesses need to be vigilant, keeping their security tight to ensure this kind of digital trickery doesn't lead to a costly disaster.

Brute force attacks are a type of cryptographic attack. This type of cyber threat is like trying every key on a keyring until you find the one that unlocks a door. Hackers use software that rapidly guesses different combinations of usernames and passwords to breach your accounts. Given enough time, and especially when backed by a powerhouse of computers or a vast network of hijacked devices known as a botnet, they stand a chance of cracking even seemingly secure accounts.

It's alarming but true: one in five networks has fallen victim to such attacks.

You might be under siege if you notice patterns like the same IP address repeatedly trying to sign in, a bunch of different IP addresses attacking a single user account, or a flood of failed login tries from various IP addresses all in a sprint.

An example that sticks out happened in 2018 when the e-commerce platform Magento took a hit. Attackers bulldozed their way into over a thousand admin panels. Their haul? A treasure trove of credit card numbers and the opportunity to plant malware that secretly mined cryptocurrency. These incidents underscore the necessity for robust password policies, the use of multi-factor authentication, and watchful security monitoring to combat the brute force techniques threatening to pry open the digital doors to our most confidential data.

Mobile attacks are a rising concern, given that the average American was on their cell phone for over four hours daily in 2021. Our smartphones aren't just for socializing—they've become indispensable for work too, which puts them in the crosshairs for cyber attacks. They face the same dangers as PCs and laptops: phishing scams—increasingly through text messages—weak passwords that invite trouble, hidden spyware, and apps with harmful intentions.

As much as we depend on our phones for virtually everything, from managing finances to storing personal photos, it's crucial to ramp up their defense. This means being wary of unsolicited messages, using strong, unique passwords, and only downloading apps from trustworthy sources. Since our phones carry such precious cargo—sensitive work documents, access to bank accounts, personal information—they're a goldmine for cybercriminals. Protecting what's in our pockets is as important as securing what's on our desks, requiring attention, awareness, and proper security measures to fend off the threats lurking behind our screens.