In today's hyperconnected world, smart devices and the Internet of Things are transforming everyday life, making it easier and more efficient. IoT has brought a remarkable revolution from fitness trackers and smart home appliances to connected cars and industrial sensors, making life smoother. However, with the rapid growth of connected devices, the associated cybersecurity threats also escalate as our reliance on IoT increases.
The Surge Of Cybersecurity In The Era Of IoT & Smart Devices
As per the report by Your Story, The number of IoT devices is projected to exceed 50 billion by 2030, bringing more convenience and connection to our daily lives. However, as many devices suffer from weak security protocols, including outdated firmware and default passwords, which create sensitivity and make it easier for hackers to exploit, this rapid growth carries significant cybersecurity challenges. This led to the risks such as data breaches, DDoS attacks, and Botnet Attacks. As per the report by Cyber Express, during the first quarter of 2024, India experienced a 46% year-over-year rise in cyberattacks, facing an average of 3,201 attacks per week targeting Indians and their businesses.
To tackle these issues, cybersecurity is evolving in solutions like better security standards, such as AI threat detection, Transport Layer Security, IoT security standards, Public Key Infrastructure (PKI) Strategy, and systems that verify every user or device accessing a network. Users can also protect themselves by updating their devices regularly, using strong passwords, enabling two-factor authentication, and avoiding unsecured networks. While IoT brings unparalleled convenience, securing it depends on strong, secure protection and innovative user practices.
Importance Of IoT Cybersecurity
While IoT revolutionizes our way of living, it also introduces significant challenges; here's why cybersecurity is essential in IoT:
1. Securing From Data Breaches
IoT devices gather and transfer vast amounts of data, including sensitive personal and organizational information. Without robust cybersecurity measures, this data becomes vulnerable, leading to identity theft, financial loss, and even industrial espionage. As our dependency on IoT grows, securing this data is no longer a luxury; it's fundamental to safeguard privacy, protect assets, and ensure trust in the digital ecosystem.
2. Safeguarding Critical Infrastructure
IoT is essential in multiple sectors, such as healthcare, research, energy, and transportation. Cyber Attacks in these areas interrupt services, endanger lives, and hamper economic stability. With the growing use of connected devices, it's essential to strengthen security and ensure these systems can safeguard people and countries from serious threats.
3. Preventing Device Hijacking
Poorly secured IoT devices are prime targets for hackers, enabling them to gain unauthorized access and control over them. Such breaches can escalate into large-scale threats like botnet attacks, where infected devices are used to execute devastating cyberattacks. Beyond cyber warfare, influenced devices can jeopardize privacy, disrupt essential operations, and fuel financial fraud. Enhancing IoT security is necessary to protect our interconnected digital landscape.
4. Preventing Businesses From Financial Losses
Cyber incidents in IoT systems can disrupt business, lead to significant financial fallout, and harm brand reputation. Strengthening security measures and implementing proactive risk strategies ultimately help companies protect their assets, maintain continuity, and build customer confidence, which brings financial stability and long-term growth.
5. Regulations & Compliance
The government plays a vital role in securing IoT by implementing regulations and promoting compliance with cyber security standards. The following compliance protects businesses and positions them as trustworthy leaders in a connected world. IT Act: The National Cyber Security Policy steps towards safeguarding users from the growing threat landscape.
Find out the importance of cybersecurity in the age of remote work
Challenges Of Cybersecurity In IoT
- Malware
Malware is malicious software that sneaks into a network without authorization. Once it gains access, it creates chaos by stealing data, draining funds, slowing systems, or even shutting them down entirely. It manifests itself in several ways, such as viruses, trojan horses, spyware, rootkits, adware, and warms. Security must be updated to defend against these threats.
- Hacking
Hacking is a proactive tactic used by cybercriminals to manipulate networks, while malware operates more likely as a passive threat. Almost every IoT device is vulnerable to risk as hackers are becoming more brilliant daily. Once they gain access to the system, they extract sensitive data and misuse it for malicious purposes. Another kind of hacking is a DDoS attack, which overwhelms the system with fake traffic, causing it to malfunction and might be taken over. Instead of gaining direct access, hackers can leverage multiple computers to bombard IoT devices and their servers, forcing them to crash or shut down.
- Poor Encryption
Many IoT gadgets lack default encryption, which leaves them highly vulnerable to cyberattacks. Without proper encryption, sensitive data becomes an easy target for unauthorized parties. Encryption is used in many devices, such as mobile apps, websites, and other smart devices. However, more is needed to ensure that all data sent and received is encrypted.
- Botnet Attacks
IoT devices need cybersecurity because they are more likely to be vulnerable to malware. They don't receive regular software security updates like usual computers, which makes hackers infect them with malware by creating bot armies to launch a botnet attack, flooding targets with massive traffic.
- Lack Of Compliance
To highlight this issue, let's examine how IoT devices are used daily. For example, fitness trackers keep Bluetooth visible after the initial pairing, and Gmail logins may be viewed on a smart refrigerator. These scenarios showcase the cybersecurity risk of IoT devices, including weak passwords, unprotected and insecure data, hardware vulnerabilities, and more.
IoT Cybersecurity Incidents
- BoAt India Data Breach-
In April 2024, boAt, India's fastest-growing wearable brand, experienced a significant data breach. According to reports, 7.5 million users' details were leaked, including user names, addresses, contact numbers, email IDs, and customer IDs. The breach was executed by a hacker known as "ShopifyGUY," who disclosed approximately 2 gigabytes of Personally Identifiable Information (PII) on dark web forums.
- Zivame Data Breach-
Zivame, a prominent online e-commerce retailer well known for offering a range of products in women's apparel in India, experienced a significant data breach in May 2023. This breach affected 1.5 million female customers by exposing their personal information, including their names, mail IDs, phone numbers, and personal addresses. An Investigation by India Today's Open Source Intelligence (OSINT) reached out to the seller using a Telegram handle and stated that the seller was offering the stolen data for $500 cryptocurrency.
- Hack Of Swachhta platform-
The Swachh City platform, linked to the Swachh Bharat Mission and the Ministry of Housing and Urban Affairs, was hacked by hackers identified as "LeakBase" in September 2022, exposing the personal data of 16 million people. They accessed sensitive data, including email addresses, passwords, phone numbers, OTP details, login IPs, user tokens, and browser fingerprints, and sold the stolen database on the dark web.
- Paytm Data Breach-
Paytm, India's multinational financial technology company, experienced a data breach in August 2020. According to reports, it affected 3.5 million users and exposed personal information like names, phone numbers and email IDs, DOB, gender, Addresses, income levels, and purchases.
- Mirai Botnet Malware Attack-
It is one of the most significant attacks in India. This attack targeted 2.5 million home routers and IoT devices, including a larger number of computers. The malware manipulated unresolved vulnerabilities to access networks and systems.
Learn about AI and Ethics, how both need to be implement together in the era of smart technology
IoT and Cybersecurity: How to secure IoT devices from Cyber Attacks
Data transmitted through various IoT devices must be safeguarded using proper security measures. Businesses and individuals should adopt strong IoT cybersecurity solutions to secure IoT connections and avoid cyber attacks.
The following practices should adhere to secure IoT connections-
- Two-Step Verification
Two-step verification strengthens the security of individuals and businesses by adding an extra layer of protection against cyber threats. A second factor, such as a one-time code or authentication app, reduces the risk of unauthorized access, even if passwords are stolen. This extra authentication factor helps to protect sensitive data against phishing and fraudulent transactions. Overall, it makes it difficult for cyber attackers to access the accounts, ensuring personal and corporate data protection from potential attacks.
- Secure Communication
In this digital world, secure communication is essential for enhancing IoT security. Some strategies include encrypting data with protocols like AES and using TLS/SSL, which protects data from being tampered with during transmission. "Certificate-based Authentication" is often used to set up TLS, ensuring that communication occurs between two trusted parties. This approach helps safeguard information and increases communication security.
- Encryption
Encryption is a crucial security measure designed to protect sensitive data on smartphones, laptops, and tablets. It converts information into a coded format, making it difficult for hackers to access the data. By providing an extra layer of security even if the device is lost or stolen, that encrypted data remains unclear without the description key. It ensures that only authorized parties can access the data, maintaining privacy and security.
- Public Key Infrastructure
Public Key Infrastructure is a vital security framework that enables users to securely communicate and exchange data and money using cryptographic key pairs. It secures data using two types of encryption processes: Symmetric and Asymmetric. Symmetric encryption requires a public key for encryption and a private key for decryption, whereas symmetric encryption uses the same key for both processes.
- IoT Security Analytics
IoT security analytics plays a crucial role in reducing the number of security problems. It collects, compares, and evaluates data from multiple sources and can support IoT security providers by helping in the threat detection process, ensuring privacy and secure data transmission. Adopting IoT security analytics creates a safe and reliable environment for individuals and organizations.
- Regular Monitoring and Security Updates
It is essential for individuals to monitor IoT devices regularly for timely updates. Consistently checking on unusual activities or vulnerabilities enables users to detect threats early. Keeping IoT systems updated with the latest security terms helps prevent data from cybercriminals. These practices minimize risks, secure personal data, improve device protection, and ensure a safe digital environment.
End Note
The IoT has reshaped how we interact with technology, making our lives more convenient and efficient. However, this innovation brings significant cybersecurity challenges by adopting effective practices that safeguard the devices and networks and help to address these concerns. Moreover, utilizing IoT security analytics and implementing government regulations can strengthen defences against cyber attacks. To secure the IoT landscape, the collaboration between organizations, individuals and government is crucial. By prioritizing cybersecurity, we can utilize the benefits of IoT while reducing its potential vulnerabilities.
