Network File-Sharing Service Suffers Cryptojacking Attack 

QNAP Inc., a company specializing in building file-sharing and storage management applications, has warned users about an ongoing crypto mining attack on its network-attached devices. According to a recent Bleeping Computer report, the attack is essentially a cryptojacking operation, forcing connected devices to mine Bitcoin.

Blaming Weak Passwords

A Taiwanese company, QNAP Systems is a giant in the file storage and memory devices space. The company provides a backup hub for storing files, essentially operating as a hard drive that users can access anywhere and anytime.

As Bleeping Computer reported, security experts have named the malware installed on connected devices as “Dovecat.” They explained that it had been affecting computer systems since November 2020, and QNAP appears to have been its most prominent target. With access to thousands of connected devices, the malware can get a massive amount of processing power for its mining operation.

QNAP explained to the news source that customers’ weak passwords were to blame for the malware intrusion. The company has asked that users replace weak passwords with stronger ones while installing malware blockers and updating their network-attached devices.

Will 2021 Continue Where 2020 Left Off?

Cryptojacking has been one of the most famous malware variants for the past year. With more people and companies requiring effective internet connection and support, hackers have had a vast network of victims to take advantage of.

Last June, Russian cybersecurity firm Kaspersky reported that Singapore alone had seen a significant spike in the number of cryptojacking cases in the first quarter of the year. Per the report, January to March 2020 saw 11,700 cryptojacking complaints from the country – up from 2,900 in the first three months of the previous year.

Mexico saw a similar trend, where local news source El Economista confirmed that more individuals and firms had fallen victim to crimes like cryptojacking and ransomware attacks than ever before.

The report explained that several companies had complained about unknown entities accessing their cloud computing systems and using them for cryptocurrency mining. However, a cybersecurity expert also told the news medium that many of the firms don’t seem to know much about cloud security, to begin with.