Protect your Azure environment from cryptomining fraud and soaring costs with Phoenix AzGuardian.
Cryptomining fraud involves unauthorised individuals or groups gaining access to your Azure resources to mine cryptocurrencies without your knowledge or consent. They leverage the processing power of Azure’s high-performance computing resources to perform the complex calculations necessary for cryptocurrency mining, with your organisation responsible for this usage. It’s a stealthy, illegal operation that if left undetected, can lead to significant and unexpected Azure consumption costs that can severely impact on your organisation’s ability to operate and deliver services.
Soaring incidents: cryptomining fraud incidents targeting Microsoft Azure tenancies have experienced a rapid surge
Financial implications: unauthorised cryptocurrency mining activities consume processing power, and can result in significant unauthorised cloud consumption costs. This can lead to substantial financial losses for the organisations whose Microsoft Azure tenancies have been compromised – not the service providers
Loss of service: cryptomining fraud activities can lead to a service degradation if resources are terminated, or even entire subscriptions cancelled in the event of an attack
Regulatory concerns: cryptomining fraud exposes organisations to potential data breaches. The infiltration required for unauthorised mining can also be used to provide attackers with access to sensitive data, leading to severe compliance and regulatory implications
Managing the risk of cryptomining fraud in Microsoft Azure presents several challenges due to the unique characteristics of cloud environments and the evolving nature of cryptomining fraud techniques. Some key challenges include:
Dynamic nature: cryptomining fraud techniques constantly evolve to bypass security measures. Attackers adapt their code, utilise obfuscation techniques, and leverage new vulnerabilities to evade detection and continue their unauthorised mining activities
Visibility and monitoring: traditional security measures may struggle to detect cryptomining fraud activities within Azure. The nature of cloud resources and the decentralised architecture make it crucial to have robust monitoring and visibility solutions in place
Scale and complexity: Azure environments encompass a vast array of resources, making it challenging to identify and mitigate cryptocurrency fraud incidents effectively. The distributed nature of cloud infrastructure further complicates the detection and prevention process
Rapid deployment: once an organisation’s Azure environment has been compromised, the resources required for cryptomining can be provisioned and up and running in a matter of minutes, with unauthorised costs being generated immediately
Addressing these challenges requires a comprehensive approach that combines robust monitoring and detection mechanisms, leveraging Azure-native security services and third-party solutions, implementing secure coding practices, and maintaining up-to-date knowledge of emerging cryptomining fraud techniques.
The below are recent examples of cryptomining fraud incidents in the UK showing what happened, the route taken to gain access, and how costly this became for the organisations:
Real-world example 1:
Real-world example 2:
Managing the risk of cryptomining fraud requires a proactive and layered approach, such as regularly reviewing and updating your security controls, staying informed about the latest security best practices, and engaging in ongoing security assessments and monitoring to ensure a secure Azure environment. But is this enough?
To combat this rising threat, Phoenix have developed AzGuardian – a powerful, proactive defence mechanism designed to safeguard your Azure infrastructure from this ever-evolving threat. With Phoenix AzGuardian, you will gain:
Comprehensive cryptomining fraud protection: cryptomining fraud attacks can silently compromise your Azure environment, leading to significant unauthorised costs being added to your Azure bill. Phoenix AzGuardian helps protect your environment from these threats and preserves the integrity of your Azure environments
Cost control: uncontrolled resource usage on your Azure platform by threat actors can very quickly drive up your Azure costs! With Phoenix AzGuardian, you will gain peace of mind that your Azure costs are monitored, controlled, and alerted on if they start to rise due to a cryptomining fraud event
Expert guidance from Azure specialists: when you choose Phoenix AzGuardian, you gain access to a team of Azure specialists who understand the intricacies of securing and optimising Azure environments. Our team will work closely with you, offering recommendations for best practices that address your needs
Trusted and proven solution: Phoenix AzGuardian is the world’s first proprietary solution of its kind with a proven track record in safeguarding Azure environments, neutralising cryptomining attacks, and managing costs. Join the growing number of organisations who have experienced the benefits and peace of mind of Phoenix AzGuardian first-hand
As one of the most recognised and accredited world-leading Microsoft partners with a focus on transforming organisations across the UK, you can trust in Phoenix and our skills and specialist knowledge.
Phoenix enables digital transformation in the workplace, empowering UK organisations to innovate and transform with cloud and hybrid infrastructures data, AI, security, and collaboration tools. By understanding the individual goals of its customers, Phoenix delivers remarkable, outcome-focused IT solutions and services that allow UK organisations to make a difference to the lives of their employees, service users, and communities.
Phoenix is a signatory on the Race at Work Charter, and a Disability Confident and Living Wage employer. The company is also actively involved in encouraging more women into the IT industry.
