We can say that the internet of things (IoT) has finally arrived and big conglomerates like Amazon and Google are in a competition to prove they are superior in this whole market. There have been various prognostications over the years which suggest that there will be at least tens of billions correlated devices by 2020, and even objects as commonplace as child monitors or displays can become a part of this interrelated world.
However with each device getting connected there is an increased issue of privacy and security looming over the adoption of IoT. These concerns vary from hackers stealing the data and threatening lives to how corporations can make use of the most private data for their benefit. While IoT’s progress will not be halted anytime soon, here are a few big issues which consumers and businesses need to look into before both using these connected devices.
Ransomware:
Ransomware has consistently gained grounds, and while the majority of these attacks use encryptions to lock users out of computing platforms, there is a good chance that hackers will begin launching a wider variety of ransom attacks which will be extremely sophisticated. There are chances of hacking into security cameras for raw footages or accessing devices to get data and hackers blackmailing to release them. These devices can also be used to introduce traffic to a malware-infected web address.
Cryptocurrency:
Hackers have started cashing in on the rising value of cryptocurrency. Although, it is believed that blockchain is unhackable, but there is an increase in attacks to break down the same technology. More sophisticated attacks will be made to extract passwords and private keys to hacking into cryptocurrency accounts. There has also been an increase in IoT-botnet based mining in the case of the open-source cryptocurrency and hackers have repurposed video cameras for bitcoin withdrawal.
Quantum Computing:
With the global quantum computing race heating up and big league providers introducing the best technology offers there is an urgency to address potential security issues that have cropped with quantum computing. With plans of making quantum computing commercially available in less than a decade, security needs to be looked into now. As the National Security Agency has said, quantum computing-based attacks will turn into common legacy public-key cryptography outdated, potentially leaving immeasurable IoT products in the field vulnerable to attack.
IoT attacks under the radar:
The most memorable IoT-based malware can be said Mirai botnet in 2016, which crippled many mainstream websites and Reaper in 2017. However, the attacks are getting more sophisticated and are getting smaller resulting in them not to get detected. One can say that there are micro-breaches that are not being monitored however only time will tell if these will culminate into more significant threats or not. With IoT gaining massive momentum these security breaches are getting more difficult to be detected. However, Automation and AI tools could help network administrators and security staffs tackle the bedlam by implementing rules and recognizing abnormal traffic patterns.
Hackers will target a more extensive selection of IoT devices:
With time passing, hackers are tapping into a wider variety of IoT devices which can range from healthcare devices to security cameras. The data that can be stolen from these multiple devices are of immense value to organizations that can use them for ulterior motifs and also manipulate information giving rise to chaos.
Sensor attacks will be omnipresent:
IoT sensors will strongly emerge as significant security susceptibility. Hackers are likely to launch sensor based attacks by sending a form of energy which will not be detected by the humans, for example, sending infrared signals or voice-control systems that can make these sensors corrupt giving out protected data.
Privacy will become necessary for the IoT conversation:
With organizations or people incorporating a growing number of IoT devices including thermostats, smart TVs, connected printers and smart lighting or installing speakers in their homes, privacy will become a rising concern. Hacker may tap into these devices and steal information that can be utilized by rivals or organizations for their benefits.
