Microsoft: India Records Highest Cryptocurrency Mining Malware Rate
Main page News, India, Crypto Market, Cryptocurrency, Hacker Attack
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July 29, 2020
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Microsoft has released the latest edition of its Security Endpoint Threat Report 2019, according to which, India was listed among top five countries that are most affected by cryptocurrency mining attacks.

The analysis of the Indian crypto market took 12 months from January to December 2019, Microsoft says.

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Mary Jo Schrade, Assistant General Counsel, Microsoft Digital Crimes Unit, Microsoft Asia says the report is aimed at creating "a better understanding of the evolving threat landscape."

"As security defenses evolve and attackers rely on new techniques, Microsoft’s unique access to billions of threat signals every day enables us to gather data and insights to inform our response to cyberattacks," Schrade added.

Microsoft also highlights Asia Pacific continued to experience a higher-than-average encounter rate for malware and ransomware attacks – 1.6 and 1.7 times higher than the rest of the world, respectively.

Earlier, India's Prime Minister Narendra Modi encouraged to invest in new technological sector, including blockchain, 5G, big data, quantum computing and Internet of Things (IoT).

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However, India still cannot decide on how it should treat the crypto-related business. Even though the Reserve Bank of India (RBI) confirmed there are no restrictions on financial services for crypto-related traders and exchanges, the Indian Ministry of Finance recently proposed a new ban on cryptos.

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