Google Cloud users who are victims of hidden mining can count on compensation. The cloud service’s management will allocate up to $1 million to compensate customers.
“Mining is a pervasive and costly threat to cloud environments. One attack can lead to hundreds of thousands of dollars in unauthorized charges in just a few days,” Google explained.
Such attacks pose a serious security problem for organizations that lack adequate controls and threat detection capabilities in their cloud environments, the company explained.
A September 2022 Google Cybersecurity Action Team (GCAT) report by Threat Horizons found that 65% of compromised cloud accounts were exposed to covert mining.
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“To bolster our customers’ confidence, we are introducing a new program that offers up to $1 million in financial protection,” the company explained.
Google Cloud’s Security Control Center (SCC) will be able to detect compromised identities that allow attackers to gain unauthorized access to cloud accounts and quickly deploy mining malware.
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“This overall approach to cloud security helps increase the confidence of enterprise customers in the transition to cloud service,” said Philip Bues, head of cloud security research at the company.
According to analytics platform PeckShield, hackers stole $16 million worth of cryptocurrency during May, while unscrupulous developers stole at least $55 million from their users;
A Zimbabwean cryptocurrency trader was recently accused of stealing $457,000 worth of crypto assets from a gullible user whom the investor helped register cryptocurrency wallets.<br