How the ‘insecurity of things’ creates the next wave of security opportunities
Summary
In fact, more than 56 “types” of devices, such as wireless routers, DVRs, IP Phones, web cameras and even heat pumps were found to be compromised. The range of IoT insecurity challenges already identified include Belkin Wemo Home Automation Devices and LIFX Bulbs (both had keys embedded in the firmware), refrigerators turning into a botnet for sending spam and, every parent’s nightmare, a baby monitoring camera hacked by remote viewers. Startups focused on IoT security, like Bastille Networks (backed by Bessemer), look for RF signatures, while ZingBox and SmartOrbis are taking a shot at cloud-based analytics and device behavior anomalies. In our research, we did not expect to see misconfigurations in critical infrastructure that, if compromised, could cause literally tens of billions of dollars of global price fluctuations in certain markets.” The IoT landscape is vast and challenging. Managing OS variants, communication protocols and application areas will be no easy task for any enterprise insurance underwriters who are collecting upwards of $1 billion each year in premiums.
