Google Cloud is offering specific customers up $1 million for the cost of an undetected crypto-mining attack. Users with a Google’s Security Command Center Premium subscription are eligible for this protection.
Google Cloud’s blog reveals that cryptocurrency mining accounted for 65% of compromised cloud accounts. Automated attacks prompted Google to offer safeguards for unauthorized mining expenses. The protection program applies to mining software, particularly for tokens like Monero (XMR).
“A single attack can result in unauthorized compute costs of hundreds of thousands of dollars in just days.” The announcement added that “cryptomining is a pervasive and costly threat to cloud environments.”
Customers of Google Cloud using Security Command Center Premium can participate in the protection program. Users should follow the terms and conditions, including Cryptomining Detection Best Practices.
Google Cloud’s Move
Google Cloud adopts a shared fate approach to risk management, taking responsibility for delivering security outcomes on its platform. Customers are provided with effective built-in tools to detect prevalent cloud threats, and in case of unsuccessful outcomes, Google Cloud offers financial protection.
“Cryptomining attacks continue to be a serious security and financial issue for organizations who do not have the right preventative controls and threat detection capabilities in their cloud environments. This shared fate approach to cloud security helps increase confidence among enterprise buyers when moving to the cloud,” said Philip Bues, research manager for cloud security, IDC.