Your Cloud Account Isn't Just a Login Anymore. It's a Bank Account Attackers Can Reach.
In this week's "Strike a Nerve" update, I want to talk about a shift in what attackers are actually after once they get into a cloud account, because it is not what most businesses assume.
Threat hunters have tracked a sharp rise in attackers hijacking cloud credentials specifically to mine cryptocurrency and reach digital financial assets. In one documented case, attackers mined tens of thousands of dollars worth of cryptocurrency using a compromised account before anyone noticed the activity.
This is a different kind of breach than the ones businesses typically prepare for. It is not about stealing files or holding data for ransom. It is about turning your cloud infrastructure into a revenue stream for someone else, quietly, in the background, while your systems keep running and nothing looks obviously wrong.
For businesses in California, there is an added layer. A compromised cloud account is not only a financial loss. If personal or client information was accessible through that account, it can trigger notification obligations under state law within days of discovery, regardless of whether the attacker's real goal was cryptomining.
Three steps to take right now:
- Review who has access to your cloud accounts and remove any permissions that are no longer necessary.
- Set up billing and usage alerts on your cloud platforms so unusual spikes in compute activity get flagged immediately.
- Ask your IT provider whether your cloud environment is monitored the same way your on premises network is, not as an afterthought.
If someone was quietly using your cloud account for their own purposes right now, how long would it take you to notice? Let us help you find out.
— Steve, "Strike a Nerve" Weekly Cyber Threat Update