Cryptocurrency

McAfee Official Warns Against Cryptojacking In India

India has progressed phenomenally to counteract cybercrimes and already owned and maintained advanced cybercrime defence technologies. However, protecting the business sector from cyber-attack is the prime importance. To achieve an unbreakable security system against cryptojacking in India, security should be the top priority.

Although India is having many interactions with his neighbouring countries and signing MOUs on cybersecurity issues, it is still not sufficient and needs to advance further to repulse cyber-attacks effectively. Ian Yip, Chief Technology Officer of the Asia Pacific at McAfee, told IANS.

India has formed a National Cyber Coordination Centre, in addition to CERT, general computer emergency response team. India also facilitated an independent and secured CERT exclusively for the finance sector. This organization shall protect the Banking, Financial Services and Insurance (BFSI) sector from cyber-attack.

Cryptojacking In India

According to Yip, the mode of cyber-crime technology has also seen a remarkable advancement in the execution of hacking. Cybercriminals are now hiring full-fledged secondary cybercrime service providers equipped with advanced hacking technology. They are helping their clients with cybercriminal leverage services. They are utilizing advanced malware techniques to target enterprises.

As per recent report provided by the Australian Security Policy Institute, ranking India to 10th position from cybersecurity point of view globally. “The 10th rank globally is not that bad and there is room for improvement. India is in a good place to make those improvements by collaborating with all the stakeholders including cybersecurity firms,” Yip told IANS.

Cryptojacking in India is apprehended to be a big threat to the financial sector of India, which needs full proof protection. Cybercriminals’ focus on cryptocurrency is due to its rapid growth in the fourth quarter of 2017. Cybercriminals adopting a variety advanced technology, new tools and schemes, a new McAfee report said. According to Yip, the last resorts of innovation in cybersecurity solution are Ml and AI solutions.

What is Cryptojacking?

Cryptojacking is a recent and advanced criminal procedure of executing cyber-attack by which a hacker or intruder grips the processing technology and diverts the cryptocurrency in their favour by capturing and mining cryptocurrency.

McAfee, Inc., earlier recognized as Intel Security Group during 2014–2017, is a world-famous global computer security software company. The headquarter of McAfee is in Santa Clara, California.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Pooja Anoj is a cryptocurrency blogger who covers exciting crypto news stories and crypto guides for OWLT Market.

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