#FactCheck - Debunked: AI-Generated Image Circulating as April Solar Eclipse Snapshot

Introduction

The digital realm is evolving at a rapid pace, revolutionising cyberspace at a breakneck speed. However, this dynamic growth has left several operational and regulatory lacunae in the fabric of cyberspace, which are exploited by cybercriminals for their ulterior motives. One of the threats that emerged rapidly in 2024 is proxyjacking, in which vulnerable systems are exploited by cyber criminals to sell their bandwidth to third-party proxy servers. This cyber threat poses a significant threat to organisations and individual servers. 

Proxyjacking is a kind of cyber attack that leverages legit bandwidth sharing services such as Peer2Profit and HoneyGain. These are legitimate platforms but proxyjacking occurs when such services are exploited without user consent. These services provide the opportunity to monetize their surplus internet bandwidth by sharing with other users. The model itself is harmless but provides an avenue for numerous cyber hostilities.  The participants install net-sharing software and add the participating system to the proxy network, enabling users to route their traffic through the system. This setup intends to enhance privacy and provide access to geo-locked content. 

The Modus Operandi

These systems are hijacked by cybercriminals, who sell the bandwidth of infected devices. This is achieved by establishing Secure Shell (SSH) connections to vulnerable servers. While hackers rarely use honeypots to render elaborate scams, the technical possibility of them doing so cannot be discounted. Cowrie Honeypots, for instance, are engineered to emulate UNIX systems. Attackers can use similar tactics to gain unauthorized access to poorly secured systems. Once inside the system, attackers utilise legit tools such as public docker images to take over proxy monetization services. These tools are undetectable to anti-malware software due to being genuine software in and of themselves. Endpoint detection and response (EDR) tools also struggle with the same threats.

The Major Challenges 

Limitation Of Current Safeguards – current malware detection software is unable to distinguish between malicious and genuine use of bandwidth services, as the nature of the attack is not inherently malicious. 

Bigger Threat Than Crypto-Jacking – Proxyjacking poses a bigger threat than cryptojacking, where systems are compromised to mine crypto-currency. Proxyjacking uses minimal system resources rendering it more challenging to identify. As such, proxyjacking offers perpetrators a higher degree of stealth because it is a resource-light technique, whereas cryptojacking can leave CPU and GPU usage footprints.

Role of Technology in the Fight Against Proxyjacking

Advanced Safety Measures- Implementing advanced safety measures is crucial in combating proxyjacking. Network monitoring tools can help detect unusual traffic patterns indicative of proxyjacking. Key-based authentication for SSH can significantly reduce the risk of unauthorized access, ensuring that only trusted devices can establish connections. Intrusion Detection Systems and Intrusion Prevention Systems can go a long way towards monitoring unusual outbound traffic.

Robust Verification Processes- sharing services must adopt robust verification processes to ensure that only legitimate users are sharing bandwidth. This could include stricter identity verification methods and continuous monitoring of user activities to identify and block suspicious behaviour. 

Policy Recommendations

Verification for Bandwidth Sharing Services – Mandatory verification standards should be enforced for bandwidth-sharing services, including stringent Know Your Customer (KYC) protocols to verify the identity of users. A strong regulatory body would ensure proper compliance with verification standards and impose penalties. The transparency reports must document the user base, verification processes and incidents. 

Robust SSH Security Protocols – Key-based authentication for SSH across organisations should be mandated, to neutralize the risk of brute force attacks. Mandatory security audits of SSH configuration within organisations to ensure best practices are complied with and vulnerabilities are identified will help. Detailed logging of SSH attempts will streamline the process of identification and investigation of suspicious behaviour. 

Effective Anomaly Detection System – Design a standard anomaly detection system to monitor networks. The industry-wide detection system should focus on detecting inconsistencies in traffic patterns indicating proxy-jacking. Establishing mandatory protocols for incident reporting to centralised authority should be implemented. The system should incorporate machine learning in order to stay abreast with evolving attack methodologies.

Framework for Incident Response – A national framework should include guidelines for investigation, response and remediation to be followed by organisations. A centralized database can be used for logging and tracking all proxy hacking incidents, allowing for information sharing on a real-time basis. This mechanism will aid in identifying emerging trends and common attack vectors. 

Whistleblower Incentives – Enacting whistleblower protection laws will ensure the proper safety of individuals reporting proxyjacking activities. Monetary rewards provide extra incentives and motivate individuals to join whistleblowing programs. To provide further protection to whistleblowers, secure communication channels can be established which will ensure full anonymity to individuals. 

Conclusion

Proxyjacking represents an insidious and complicated threat in cyberspace. By exploiting legitimate bandwidth-sharing services, cybercriminals can profit while remaining entirely anonymous. Addressing this issue requires a multifaceted approach, including advanced anomaly detection systems, effective verification systems, and comprehensive incident response frameworks. These measures of strong cyber awareness among netizens will ensure a healthy and robust cyberspace. 

References 

• https://gridinsoft.com/blogs/what-is-proxyjacking/
• https://www.darkreading.com/cyber-risk/ssh-servers-hit-in-proxyjacking-cyberattacks
• https://therecord.media/hackers-use-log4j-in-proxyjacking-scheme

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Introduction

‍Human Trafficking has been a significant concern and threat to society for a very long time. The aspects of our physical safety also have been influenced by human traffickers and the modus operandi they have adopted and deployed over the years. We are always cautious of younger children in regard to trafficking whenever we go out to crowded or unknown places. This concern and threat have also migrated to cyberspace and now pose new and different tangents of threats. These crimes are committed using technology and are further substantiated by different cybercrimes.

‍What is Cyber-Enabled Human Trafficking?

‍Cyber-enabled human trafficking is the new evolution of human trafficking in the digital age. Bad actors lure the victims via the internet and use social engineering to exploit their vulnerabilities to get them into their traps. In today's time, crime is often substantiated in lieu of fake job offers and a better lifestyle in new and major metropolitan cities. Now this crime has gone beyond the geographical boundaries of our nation, and often the victims end up in remote locations in the Middle East or South East Asia.

‍Cybercrime Hubs in Myanmar

‍The reports have indicated that a lot of trafficked victims are taken down to various cybercrime hubs in Myanmar. The victims are often lured on the pretext of job offers overseas, which pay handsomely. The victims make their way into the foreign nation but are then cornered by the bad actors and are segregated and taken into different hubs. The victims are often school graduates and seek basic jobs for their earnings. The victims are taken into Cybercrime hubs which Chinese syndicate criminals allegedly run.The victims are kept in tough conditions, beaten up, and held captive in remote jungles. Once the victim has lost hope, the criminals train them to commit cyber frauds like phishing. The victims are given scripts and mobile numbers to commit cybercrimes. The victims are given targets to ensure their survival, and due to the dark and threatening conditions, the victims just give up on the demands just to remain alive. Some of the victims make their way back home as well, but that is after 6-7 years of such constant torture and abuse to commit cybercrimes. The majority of such survivors face trouble seeking legal assistance as the criminals are almost impossible to track, thus making redressal for crimes and rehabilitation for survivors tough.

‍How to stay safe?

‍The criminals in such acts often target the vulnerable sector of the population, these people generally hail from tier 3 towns and rural areas. These victims aspire for a better life and earning opportunities, and due to less education and minimal awareness, they fail to see the traps set by the victims. The population at large can deploy the following measures and safe practices to avoid such horrific threats-

• Avoid Stranger interaction: Avoid interacting with strangers on any online platform or portal. Social media sites are the most used platforms by bad actors to make contact with potential victims.
• Do not Share: Avoid sharing any personal information with anyone online, and avoid filling out third-party surveys/forms seeking personal information.
• Check, Check and Recheck: Always be on alert for threats and always check and cross-check any link or platform you use or access.
• Too good to be true: If something feels like Too good to be true, it probably is and hence avoid falling for attractive job offers and work-from-home opportunities on social media platforms.
• Know your helplines: One should know the helpline numbers to make sure to exercise the reporting duty and also encourage your family members to report in case of any threat or issue.
• Raise Awareness: It is the duty of all netizens to raise awareness in society to arm more people against cybercrimes and fraud.

Conclusion

‍The name of cybercriminals is spreading all across the ecosystems, and now the technology is being deployed by such bad actors to even substantiate physical crimes. We need to be on alert and remain aware of such crimes and the modus Operandi of cyber criminals. Awareness and education are our best weapons to combat the threats and issues of cyber-enabled human trafficking, as the criminals feed on our vulnerabilities, lets eradicate them for once and for all and work towards creating a wholesome safe cyber ecosystem for all.https://www.scmp.com/week-asia/politics/article/3228543/inside-chinese-run-crime-hubs-myanmar-are-conning-world-we-can-kill-you-here

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Introduction

In a groundbreaking move, India's Reserve Bank has embarked on a transformative journey with its Central Bank Digital Currency (CBDC) project. As the world grapples with the evolving landscape of digital finance, the implications of India's CBDC initiative extend beyond its borders, potentially reshaping global payment systems. The Union Minister of State for Finance, Shri Pankaj Chaudhary, revealed that on October 7, 2022, the Reserve Bank of India released a proposal note on Central Bank Digital Currency (CBDC). Two pilot projects using blockchain-based technology are described in the concept note: Digital Rupee-Wholesale (e₹-W) and Digital Rupee-Retail (e₹-R). Launched on November 1, 2022, the bulk trading pilot aims to increase intermediary competitiveness, particularly in the resolution of trades in the secondary market involving sovereign debt. In parallel, on December 1, 2022, the retail banking pilot, known as e₹-R, got underway in a limited user group with eight banks taking part in stages.

The digital asset known as e₳-R is issued across financial institutions for Person-to-Person (P2P) and Person-to-Merchant (P2M) transactions. It is intended to serve as a virtual currency that represents legal money and exhibits characteristics similar to actual cash. Based on input gathered during the continuing trial phases, the RBI intends to progressively broaden the pilot project's scope.

Central Bank Digital Currency Pilot Projects

Central Bank Digital Currency (CBDC), which the Central Bank of India is promoting, may easily perform an essential part in payments made across borders, according to Reserve Bank Governor Shaktikanta Das. The CBDC is going to be expanded to the international financial markets after being implemented as a trial in both the retail and wholesale industries.

CBDC in International Payments

He emphasized that although physical currency will still exist, the CBDC will eventually replace all forms of money worldwide.  

"CBDC is going to be the future currency of the world and it is necessary that every central bank, every country works on CBDC," he stated. He also stated that as worldwide commerce moves more and more around science and technology, CBDCs will play a significant role since they can effectively and affordably speed up payment processing across different countries. Regarding India's foreign exchange reserves, the governor stated that the selection to increase the resources as a safety net and protection versus contagion possibilities was made consciously.

CBDCs' Place in the Transnational Economic Revolution

In certain economies worldwide, having a CBDC internationally accessible could lead to more replacements for foreign currencies rather than the home currencies, which could cause financial aggregates to become volatile and change the mix of instruments of exchange.

CBDC may have benefits related to first-mover savings of scale, and other consequences even in everyday circumstances. If nations with global currencies have established CBDCs, they could strengthen current advantages and disadvantages, including consequences, particularly in terms of revenue. In a similar vein, CBDC might alter the structure of international liquidity while safeguarding asset supply. Additionally, and particularly if imposed abruptly, CBDC may, in certain circumstances, result in significant capital movements and associated repercussions on the foreign exchange rate as well as additional asset prices. Furthermore, nations may encounter difficulties in getting ready for virtual currencies issued by central banks.

The worldwide and international scope of CBDCs accessible to immigrants may become particularly apparent in situations where there is a widespread flight safety concern. In these circumstances, converting a CBDC into a foreign currency would make it possible for capital markets to deleverage more quickly. The elimination of debt challenges could show up as tight finance constraints and abrupt swings in foreign exchange markets if CBDCS expedited its flight from uncertainty.

Deposits of Foreign Exchange and Self-Dependency

Reserve Bank Governor Shaktikanta Das stated "We must rely on ourselves. We must maintain our robust reserves. In order to achieve that goal, we have been amassing quite substantial reserves, and the outside world has come to feel quite confident that India would be able to fulfil its contractual responsibilities to the international community no matter what the obstacles," 

Involvement of RBI in the Currency Market

Given that the trading community was confident that the Reserve Bank of India would be capable of and able to fulfil its contractual responsibilities, the value of the Indian rupee did not decline as dramatically. The RBI governor stated that the RBI does participate in the economy, but that "our engagement operates in two ways," he would not hesitate to acknowledge this.

The Value of Macroeconomic and Budgetary Cooperation

According to RBI Governor Das, the RBI makes purchases and sales of dollars based on the direction in which the financial sector is trending. However, the RBI does not intend to set a certain level for the rupee because it does not consider any specific threshold for the Indian rupee's conversion rate against the US dollar. He also emphasized how crucial it is for both the financial and monetary authorities to work together.

Conclusion

India's CBDC project signals a transformative shift in the global digital finance landscape. Governor Shaktikanta Das envisions CBDCs as the future global currency, emphasizing their role in international payments. The potential impact on financial systems, cross-border transactions, and the need for self-reliance underscore the significance of India's CBDC initiative in shaping the evolving dynamics of the digital economy. As the project progresses, close cooperation between financial and monetary authorities becomes imperative for navigating the challenges and opportunities associated with this groundbreaking venture.

References

• https://economictimes.indiatimes.com/news/economy/policy/central-bank-digital-currency-can-play-important-role-in-cross-border-payment-rbi-guv/articleshow/104706717.cms
• https://www.bis.org/cpmi/publ/d174.pdf
• https://bfsi.economictimes.indiatimes.com/news/fintech/explained-how-rbi-is-leveraging-upi-to-push-the-use-of-retail-cbdc/103591989
• https://www.imf.org/en/News/Articles/2022/02/09/sp020922-the-future-of-money-gearing-up-for-central-bank-digital-currency
• https://www.business-standard.com/economy/news/cbdc-pilot-projects-show-promising-results-rbi-governor-shaktikanta-das-123102601171_1.html