Rangers are mining cryptocurrencies on Google Cloud servers.

Google's cybersecurity team warns that this is neither the first nor the last time this happens. 

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Cryptocurrency mining is a very energy-intensive process. A study published by the University of Cambridge finds that Bitcoin consumes more electricity than Argentina. Now Google has released a new report stating that malicious cryptocurrency miners are using hacked Google Cloud accounts. For mining purposes.

The report is called “Threat horizons” is intended to help organizations keep their cloud environments secure.

Even though cloud customers continue to face a variety of threats across applications and infrastructure, some successful attacks are due to poor hygiene and a lack of basic controls. Cloud customers must be aware that phishing campaigns and ransomware attacks can occur on their accounts. google wrote a summary of the report.

These specific observations will help organizations that place an emphasis on secure implementation monitoring and ongoing assurance in preventing these threats.

No time wasted

According to Google, 86% of 50 cloud accounts were used to perform cryptocurrency mining with software downloaded within 22 seconds in most cases.

Google's report revealed that 10% of compromised Cloud instances were used to conduct scans of other publicly available resources on the Internet, including vulnerable systems. When Google compared the IP addresses associated with those attacks, it found that 8% of them were used to launch attacks against other targets.

Crypto mining is so expensive but profitable, so a lot of people choose to do it through illegal means.

In May, we brought you news of a massive bitcoin mining right the UK caught the spies red-handed. Last summer the Ukraine Police Unit discovered a massive crypto mining farm in the city of Vinnytsia. In October of 2021, another illegal crypto mining plant was found in Alberta, Canada.

Where is the next illegal crypto mining activity likely to emerge?

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