Google Cloud has introduced a significant security measure by offering up to $1 million in protection to certain customers who fall victim to undetected crypto mining attacks.
Subscribers to Google’s Security Command Center Premium, a robust cyber threat detection system, can benefit from this extensive coverage.
The move reflects Google Cloud’s commitment to addressing the growing concerns surrounding cryptomining attacks and bolstering security measures for its customers.
With this initiative, Google aims to provide financial protection for organizations lacking adequate preventative controls and threat detection capabilities in their cloud environments.
Google Cloud has taken a significant step in fortifying its security offerings by providing up to $1 million in protection for costs incurred during undetected crypto mining attacks.
This protection is exclusively available to subscribers of Google’s Security Command Center Premium, an advanced cyber threat detection solution.
Philip Bues, a cloud security expert at market research firm IDC, acknowledged the significance of Google Cloud’s decision and its potential impact on organizations’ security posture.
Bues stated that cryptomining attacks continue to pose serious security and financial risks for entities lacking proper preventative controls and effective threat detection capabilities in their cloud environments.
The inclusion of coverage for such breaches stemmed from insights provided by Google’s Cybersecurity Action Team.
In their September 2022 report, the team revealed that 65% of cases involving compromised cloud accounts were associated with hackers engaging in cryptocurrency mining.
The report further highlighted that these attacks are often partially or fully automated, enabling hackers to execute them quickly and effortlessly.
In the unfortunate event that a hacker manages to bypass Google’s detection capabilities and successfully runs crypto mining software on a user’s cloud account, Google Cloud will assume responsibility for the customer’s expenses. Google will provide coverage of up to $1 million to compensate the affected customer’s bill.