Cyberattacks surge in Greater China

ThreatMetrix's latest Cybercrime Report shows a 155% increase in attacks in Greater China over the past two years (image BeeBright / iStockPhoto)

The volume of cyberattacks in Greater China has grown 155% over the two-year period between the fourth quarter of 2015 and the fourth quarter of 2017, according to research from ThreatMetrix.

The security technology company's Cybercrime Report for Q4 of 2017 also found that IP spoofing attacks in Greater China grew by 422% between Q4 of 2016 and Q4 of 2017.

Identity and device spoofing were the top attack vectors in the APAC region during the quarter. Asia-Pacific also saw the highest levels of account creation attacks, especially targeting e-commerce and media companies.

The results meanwhile show a 79% growth in the percentage of bot attacks originating in China compared to 2015, while Russia and Vietnam joined the ranks of the top five attack originators during the quarter.

Globally, the attack rate grew 50% year on year, with ThreatMetrix stopping 251 million attacks during the quarter. The e-commerce sector continued to be heavily targeted, with known fraudulent transactions increasing 173% over Q4 of 2016 to nearly 193 million.

The quarter also saw heavy bot activity from across the globe with more than 34 million attacks during the peak holiday shopping period.

Meanwhile attackers have wrapped their claws into the cryptocurrency market, with attacks creating fraudulent accounts using stolen or manufactured identities to launder money, and legitimate accounts being hacked to make fraudulent payments and cryptocurrency balance transfers.