On the flip side of the proliferation of Internet of Things (IoT) devices, the quest for increased connectivity and bandwidth (think 5G) and skyrocketing cloud adoption, IT is increasingly being weaponized to unleash cyberattacks in an unprecedented order of magnitude. Coupled with the emergence and anonymous nature of both the Dark Web and cryptocurrencies, illicit transactions have never been easier or more convenient. Distributed denial-of-service (DDoS) attacks have become more common, more powerful, and more useful to attackers. They have advanced from mere botnet-based approaches to artificial intelligence (AI) and data-driven models.
Scholars at the University of Cambridge last year published a research note describing how they used data science to shed light on criminal pathways and ferret out the key players linked to illegality in one of the biggest and oldest underground forums. Perhaps surprisingly, they found that most cybercrime is committed by people who aren't technical geniuses. Many of them offer so-called "booter" services — basically, they're hired DDoS guns — and they have become so widespread that they even include school-age children.
While not all of these attacks are spotlighted in the media, they cause significant financial blowback for companies in the form of paid-out ransoms, business downtime, lost revenue, and reputational losses, among other costs. This havoc is perpetrated by the members of a busy underground economy where cyberattack services are traded and monetized.
Attacks on the RiseEuropol's "Internet Organised Crime Threat Assessment 2019" report outlines how DDoS attacks are among the biggest thre ..
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