Google now offering $1M crypto mining attack protection
Google found that in 65% of cases involving compromised cloud accounts, hackers were engaging in crypto mining
JHVEPhoto/Shutterstock modified by Blockworks
Google Cloud is offering certain customers up to $1 million in protection for costs incurred during undetected crypto mining attacks.
Subscribers to Google’s Security Command Center Premium, a cyber threat detector, are entitled to this hefty protection.
Philip Bues, a cloud security expert for market research firm IDC, said that Google Cloud is taking a step forward with this move.
“Cryptomining attacks continue to be a serious security and financial issue for organizations who do not have the right preventative controls and threat detection capabilities in their cloud environments,” Bues said in a statement.
The decision to include such coverage for these types of breaches came after Google’s Cybersecurity Action Team published a September 2022 report showing that in 65% of cases involving compromised cloud accounts, hackers were engaging in cryptocurrency mining.
The attacks are often partially or completely automated, according to the report, making them quick and easy to carry out.
In the event that a hacker manages to bypass Google’s detection capabilities and proceeds to run crypto mining software on a user’s cloud account, Google will now take responsibility for the customer’s expenses, providing coverage of up to $1 million for their bill.
It’s important to note that this protection program doesn’t have anything to do with bitcoin mining. It is available only for people using mining software. One of the most popular crypto tokens to be mined this way is monero (XMR).
Blockworks reached out to Google and didn’t receive an immediate response.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- The Drop: Apps, games, memes and more.
- Lightspeed: All things Solana.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
