Akamai Security Research: Financial Services Continues Getting Bombarded with Credential Stuffing and Web Application Attacks

Content By Devops .com

Akamai and WMC researchers scrutinized multiple phishing kits including  ‘Kr3pto,’ which has targeted customers of 11 UK banking brands 

Cambridge, MA, May 19, 2021 — Akamai Technologies, Inc. (NASDAQ: AKAM), the  world’s most trusted solution for protecting and delivering digital experiences, today published  the State of the Internet / Security report: Phishing for Finance. The report provides an analysis  of both global and financial services-specific web application and credential stuffing attack traffic  — revealing significant increases across the attack surfaces year over year from 2019 to 2020.  

Christopher Krebs, former director of the U.S. Cybersecurity and Infrastructure Security Agency talk about the very real security threat disinformation can cause. Live at DevOps Connect 2021 on May 19.

The report also features a collaboration between Akamai and WMC Global researchers that  examined two specific phishing kits: ‘Kr3pto’ and ‘Ex-Robotos’. Kr3pto has targeted customers  of 11 UK banking brands, and Ex-Robotos has aimed its scams at corporate employees.  

By The Numbers 

In 2020, Akamai saw 193 billion credential stuffing attacks globally, with 3.4 billion hitting  financial services organizations specifically — an increase of more than 45% year-over-year in  the sector.  

Akamai observed nearly 6.3 billion web application attacks in 2020, with more than 736 million  targeting financial services — which represents an increase of 62% from 2019.  

SQL Injection (SQLi) attacks remained in the top spot across all business types globally, making  up 68% of all web application attacks in 2020, with Local File Inclusion (LFI) attacks coming in  second at 22%. However, in the financial services industry, LFI attacks were the number one  web application attack type in 2020 at 52%, with SQLi at 33% and Cross-Site Scripting at 9%.  

Over the past three years (2018-2020), Akamai saw DDoS attacks against the financial services  sector grow by 93%, indicating that systemic disruption remains an objective for criminals, who  target services and applications required for daily business. 

Threat Intelligence Collaboration 

For this report, Akamai partnered with threat intelligence company WMC Global. The  researchers at WMC Global are experts at understanding SMS phishing (smishing) and the  toolkits that criminals devise to make their attacks possible. This unique collaboration examined  two specific phishing kits: ‘Kr3pto’ and ‘Ex-Robotos’. 

“The ongoing, significant growth in credential stuffing attacks has a direct relationship to the  state of phishing in the financial services industry,” said Steve Ragan, Akamai security  researcher and author of the State of the Internet / Security report. “Criminals use a variety of  methods to augment their credential collections, and phishing is one of the key tools in their 

arsenal. By targeting banking customers and employees in the sector, criminals increase their  pool of potential victims exponentially.” 

The Kr3pto phishing kit, which targets financial institutions and their customers via SMS, has  been observed spoofing 11 brands in the UK, across more than 8,000 domains since May 2020.  WMC Global tracked more than 4,000 campaigns linked to Kr3pto targeting victims via SMS  messaging over 31 days in Q1 2021.  

Ex-Robotos is a phishing kit that essentially sets a benchmark when it comes to corporate  credential phishing. According to data from the Akamai Intelligent Edge Platform, there were  more than 220,000 hits to the API IP address used for Ex-Robotos over a span for 43 days. In  fact, traffic to that address reached a peak of tens of thousands of hits per day on average  between January 31 and February 5, 2021. 

“Kits like Kr3pto and Ex-Robotos are just two of the many kits targeting corporations and  consumers today,” said Jake Sloane, Senior Threat Hunter at WMC Global. “It’s important to  remember that employees are consumers too, and with the prevalence of work from home, as  well as mobile device usage in corporate environments, criminals are not shy about attacking  people no matter where they are, which explains the recent growth in SMS-based phishing  attacks.”  

“By partnering with WMC Global for this report, we were able to expand on our existing  coverage of the financial sector and offer a wider range of details into the attacks that financial  organizations face on a daily basis,” added Ragan. 

Read the Akamai 2021 State of the Internet / Security report: Phishing for Finance, on our State  of the Internet page

For additional information, the security community can access, engage with, and learn from  Akamai’s threat researchers and the insight that the Akamai Intelligent Edge Platform affords  into the evolving threat landscape by visiting Akamai’s Threat Research Hub

About Akamai 

Akamai secures and delivers digital experiences for the world’s largest companies. Akamai’s  intelligent edge platform surrounds everything, from the enterprise to the cloud, so customers  and their businesses can be fast, smart, and secure. Top brands globally rely on Akamai to help  them realize competitive advantage through agile solutions that extend the power of their multi cloud architectures. Akamai keeps decisions, apps and experiences closer to users than  anyone — and attacks and threats far away. Akamai’s portfolio of edge security, web and  mobile performance, enterprise access and video delivery solutions is supported by unmatched  customer service, analytics and 24/7/365 monitoring. To learn why the world’s top brands trust  Akamai, visit www.akamai.com, blogs.akamai.com, or @Akamai on Twitter. You can find our  global contact information at www.akamai.com/locations.

Leave a Reply

Your email address will not be published. Required fields are marked *