Cryptojacking Becoming A Serious Cyber Threat In Saudi Arabia


A report compiled by computer security firm Symantec has revealed that cryptojacking instances increased by close to 8500% last year in the fourth quarter.

Cryptojacking, which involves the authorized use of computing resources in order to mine virtual currencies, is growing in popularity as more and more people become aware of digital currencies and as they rise in value.

While the biggest share of cryptomining globally was in the United States at 24% in the Middle East the country with the highest share of cryptomining activity was Saudi Arabia.

Recently a report by Bloomberg Intelligence indicated that cyber-attacks could have a devastating impact on economies that are dependent on oil such as Saudi Arabia.

Additionally the New York Times recently disclosed that there had been a cyber-attack on a petro-chemical plan located in Saudi Arabia where the aim was to cause a deadly explosion. However the attack failed due to a glitch in the code.

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