Data Security

Security Risks of Connected Devices in 2024

February 15, 2024

Security Risks of Connected Devices in 2024

Introduction

In 2024, the prevalence of connected devices in homes and businesses will likely continue to grow rapidly. With this growth comes exciting new capabilities but also potential security risks that consumers, businesses, and policymakers must address. In this article, I aim to provide an in-depth examination of the various security threats posed by connected devices in 2024 and steps that can be taken to mitigate them.

Proliferation of Connected Devices

By 2024, there will be an estimated 75 billion connected devices worldwide, up from about 30 billion in 2020. The average home could have over 500 connected devices, ranging from smartphones and laptops to smart appliances, security cameras, voice assistants, and more.

This massive expansion of the Internet of Things (IoT) offers conveniences through automation and data collection but also greatly expands the attack surface. Most connected devices collect user data and can be compromised by hackers to spy on users or conduct cyber attacks. Poorly secured IoT devices are increasingly being hijacked into massive botnets capable of large-scale distributed denial-of-service (DDoS) attacks.

Inadequate Security in Connected Devices

The rapid proliferation of IoT devices is unfortunately not being matched by adequate security standards and practices. I anticipate the following security risks will be particularly salient in 2024:

Default passwords: Many IoT devices still ship with default passwords that are easily guessed. Unless changed by users, thesepasswords allow attackers easy access.
Unencrypted communications: IoT traffic is often unencrypted, allowing hackers to spy on data flowing between devices.
Lack of software updates: Most IoT devices lack automatic security updates, leaving known software vulnerabilities unpatched for extended periods.
Insecure data storage: Data collected by IoT devices, including sensitive personal information, is often stored insecurely in the cloud.
Lack of device authentication: IoT devices often cannot differentiate between legitimate versus unauthorized commands.
Poor password hygiene: Users still frequently employ weak passwords for their connected devices that can be easily cracked.

These systemic weaknesses in IoT security standards will only be exacerbated as adoption spreads. Attackers will leverage these flaws to infiltrate devices, steal data, and weaponize devices into botnets on a massive scale.

Emerging Attack Vectors

In addition to exploiting existing IoT vulnerabilities, I expect to see the following new attack vectors emerge by 2024:

Automated large-scale attacks: Advances in AI will allow hackers to identify vulnerable devices and launch attacks against them automatically at a staggering scale.
Mesh network exploitation: Mesh networks allowing IoT devices to communicate will provide new surfaces for attackers to lateral movements between devices.
5G-enabled attacks: The higher bandwidth of 5G networks will enable more sophisticated attacks using capabilities like augmented reality and facial recognition.
Quantum computing threats: Quantum computers may be able to crack current encryption standards and render devices totally insecure.
Supply chain manipulation: Nation-state hackers could compromise manufacturers to implant backdoors and malware into devices.

Steps to Mitigate Security Risks

To mitigate these emerging threats, consumers, manufacturers, and governments should take the following steps:

For Consumers

Use unique passwords for devices and update defaults.
Limit sharing of personal data collected by devices.
Purchase devices only from reputable brands with security in mind.
Isolate IoT devices on separate networks using virtual LANs.

For Manufacturers

Encrypt data transmission and storage for devices.
Provide ongoing firmware updates to patch vulnerabilities.
Adopt standard protocols allowing authentication and encryption.
Secure devices using methods like TPM hardware chips.

For Governments

Enact regulations enforcing basic IoT security standards.
Impose consequences for companies that fail to secure devices.
Support research into novel cryptographic methods like quantum encryption.
Fund cybersecurity education campaigns for consumers and businesses.

Outlook for Connected Device Security

In summary, the massive growth of connected devices in coming years will introduce an array of new cyber risks. These include inadequate security standards, emerging attack vectors, and the weaponization of devices into distributed botnets. Through collaborative action on the part of consumers, manufacturers, and governments, the worst threats can be mitigated. However, vigilance will be required as the cyber threat landscape continues to evolve at breakneck speed. Proactive security measures and rapid responses to new attacks will be essential to realizing the benefits of connected devices while minimizing their risks.