The digital world is a rapidly evolving industry with constant innovations and additions. While it is a good thing, it also opens up new doors for hackers to exploit. According to various independent reports, the number of reported cyber attacks is higher in the first half of 2024 compared to the first half of 2023.
As the world is increasingly adapting to remote work, artificial intelligence, cloud computing, cryptocurrency, and other novel technologies, there need to be more adequate ways to address cybersecurity threats.
If you deal with online data, online banking, or digital assets, you should be aware of the popular cybersecurity threats and vulnerabilities. This awareness about the pitfalls surrounding you may help you mitigate the risks to an extent. So, read on till the end of this article to know common cybersecurity threats and how hackers exploit them.
Common Cybersecurity Threats
Cyber threats or cybersecurity threats are malicious activities that steal, damage, or prevent access to a user’s or entity’s data, digital assets, or digital documents. They use a variety of techniques to get unauthorized access to a system or database such as transmitting computer viruses, using phishing methods, capitalizing on the vulnerabilities present in the existing technologies and firewalls, etc.
Here are some of the most common cyber security threats of 2024, and how hackers utilize them:
1. Phishing Attacks
Phishing attacks are the single most common cybersecurity threats historically. Here, cyber attackers utilize various methods of social engineering to prompt the users to reveal their credit card numbers, passwords, OTPs, and seed phrases (for cryptocurrency).
They may also prompt the user to click on malicious links and install malware on the devices. Phishing attacks are extremely effective because, here the attackers pretend they are from credible sources such as the customer support of your bank, government officials, and other known entities. Usually, unsuspecting users fall victim to phishing attacks.
The individuals who fall victim to phishing attacks would only know what is happening when they realize the unauthorized deduction from their accounts, by then it would be too late. So, everyone who has access to any kind of assets online should be aware of the tricks and techniques of phishing attacks and should never reveal their sensitive information to anyone.
Also Read: Google Hackers Reportedly Targeted Password System
2. Viruses & Malware
Cyber hackers use various types of viruses and malware to either retrieve sensitive information, spy on a person, or ask for ransom by disabling a user’s access to their data, and more. They trick the user into installing malware by offering big rewards, for installing an app or clicking on a link. Once infiltrated into the user’s system, hackers may get access to bank accounts, cryptocurrency wallets, social media, emails, sms, contacts, storage, and more.
To prevent yourself from getting hacked by malware and computer viruses, you should never click on suspicious links received from unauthorized sources. You should also update your operating system (OS), and security patch to the latest version. You may also use trusted antivirus applications, and firewalls to protect your devices from malware and viruses.
3. Distributed Denial-of-Services (DDoS)
Distributed Denial-of-Services (DDoS), is a common threat faced by many large corporations that provide online services such as food delivery, online banking, and more. In a Distributed denial of service, the hackers deny the entry of regular users to the website and sabotage the business.
To understand how DDoS works, you need to understand that every website can only handle a finite number of connected devices at a time depending on the respected site’s scale. hackers use several compromised devices to stay connected to the website, which automatically denies the entry of legitimate users. Business uses user authentication techniques, and captcha verifications to limit DDoS.
4. Brute-force Attacks
Networks protect themselves from unauthorized access by implementing password verifications. You might already use numerous passwords for various services. In a brute-force cyber attack, the hackers use specialized algorithms to guess passwords. The algorithm runs all the possible combinations to find the password.
Brute-force attacks would only need about 37 seconds to crack an eight-character password composed only of numbers, given that the user can retype their password an infinite number of times without triggering a timer. On the other hand, if it is an eight-character long password with a combination of uppercase and lowercase letters, numbers, and special characters, the time needed for cracking the password becomes one day, 63 thousand years if it is 12 characters long.
To protect your devices and online accounts from brute-force attacks, you need to use strong passwords, and the service providers need to put in robust measures to detect when someone is trying an exuberant amount of time to get into the system. Notifying users through SMS or call when a failed password attempt happens can also benefit.
5. Eavesdropping Attacks
Just like the title, in eavesdropping cyber attacks, the hacker manages to get themselves into a private communication and collect data by storing and filtering the data they have shared in their communications. Phone tapping is one of the best examples of eavesdropping attacks.
But with advancements in technology, today attackers use various methods including bugging a device with malware, sabotaging the integrity of a public wi-fi network, taking advantage of the security issues in SS7 (Signaling System No. 7), and more.
Users should only access online banking and cryptocurrency wallets through secured networks and should never share their banking details, passwords, seed phrases, or other sensitive information through unencrypted ways such as phone calls, and SMS.
Also Read: Sarah Palin Testifies in E-Mail Hacking Case
Conclusion
Technology around us is rapidly evolving, and with the addition of generative intelligence, the systems around us are becoming more powerful and capable every day. Meanwhile, the number of cybersecurity attacks is also increasing every year. Every individual who uses any kind of digital device should be aware of the threats around them to take adequate preventive measures.
In this article, we have familiarized ourselves with the 5 most common cybersecurity threats. It includes phishing, malware, distributed denial of service, brute force attacks, and eavesdropping. We have also looked at some of the preventive measures to take.
However, be aware that no preventive measures are hundred percent effective, so you need to take multiple measures to safeguard your sensitive information. Using separate devices for financial and personal uses, never revealing authentication details, and using credible anti-virus software can all help limit cyber threats.
