What are the biggest security challenges for Internet of Things?

In recent times, the Internet of Things has vastly changed our lives, i.e., how we view, use and interact with smart devices. On the other hand, we all are aware of the fact that anything that is connected to the internet has the potential to be hacked or misused. In a study conducted by the Eclipse IoT Working Group, it is revealed that security is the topmost concern for IoT app developers.

This statistic is showing the number of IoT connected devices from 2015 to 2025. The overall Internet of Things market is projected to be worth more than 1 billion US dollars from 2018 onwards.

Check out the largest security challenges that are plaguing the field of IoT connected devices –

Brute-forcing and concern of default passwords

Mirai Botnet is one of the best examples of the issue that comes with shipping devices with default passwords and not telling consumers to change them as soon as they receive them. The main reason behind Mirai malware was so successful it is able to identify vulnerable IoT devices and use default username and passwords for infection. The company that uses factory default credentials on their devices is placing both their business and its assets at the risk of being susceptible to a brute-force attack.

Inadequate updating and testing

In present times, it is expected that there exist approx 23 billion IoT connected devices across the globe. It is expected that this number may reach up to 30 billion by the end of 2020 and 60 billion by the end of 2025. It is often seen that most of the IoT products don’t receive enough updates while some of the products don’t get updates at all.

IoT app development companies are more excited to produce and deliver their devices without giving security. There also exist manufacturers who offer firmware updates only for a short time, not for permanent. To protect customers from attacks, testing is mandatory for all devices before they are launched into the market. If you are failing to do so then it will affect the company as well as their customers.

IoT ransomware and malware   

There is no doubt in saying that the number of IoT connected devices is continuously rising and beside this, this number of malware and ransomware also increasing only to exploit them. The main focus of ransomware attacks is to disable device functionality and stealing user data at the same time. The increasing number of IoT devices is giving birth to unpredictability in future attacks permutations.

IoT botnets aiming at cryptocurrency

The evolution of cryptocurrency valuations is proving too enticing for hackers as they are trying to cash in on the crypto-craze. Some find that blockchain is resistant to hacking but you will be surprised to know that the number of attacks in the blockchain sector is also increasing. To hack blockchain based apps, social engineering is being used to extract usernames, passwords, and private keys. Various IoT applications and platforms are based on blockchain technology need to constantly monitor and updated to prevent future cryptocurrency exploits.

Data Security and Privacy Concern       

In today’s interconnected world, data privacy and security are the biggest issues. Nowadays, companies are using a variety of IoT devices for different purposes. Some of the devices are HVAC systems, smart thermostats, speakers and lighting system. All user data is shared between various companies and that thing is violating rights for privacy and data security. So, there is a need to set dedicated compliance and privacy rules that redact sensitive data before storing it.  On the other hand, it is quite difficult for small companies to handle secure development of the mobile app and web-based IoT applications as they have limited budgets and manpower.

Small IoT detection

Two years ago, the largest IoT based botnet was the Mirai botnet but Reaper is the more dangerous botnet than the famed Mirai. In the next couple of years, it is expected that there may exist more micro breaches that may slip through the security net. Instead of grabbing millions of records, now hackers are using the subtle attack to get the information.

AI & Automation

IoT app development services are continuously invading everyday lives and the enterprises have to deal with millions of IoT devices. AI tools and automation are used to move through a large amount of data and this may help IoT administrators to identify anomalous data as well as traffic patterns.

Before building an application on IoT, these are just some security challenges that app developers should consider. Most of the challenges revolve around two things i.e., keeping IoT secure against attacks and keep the user data secure against theft. Such challenges can be resolved with legal and regulatory frameworks and the working constriction.

Final Thoughts

Adopting multi-layered security by design approach is essential for managing devices, data, and cloud-based IoT apps. If you need cloud-based IoT apps and services then Fluper is the right destination that specializes in web applications, Android & iOS app development.