98% of Internet of Things traffic comes in unencrypted mode. Going by the latest statistics, close to 91% of interconnected traffic came unencrypted a year ago. Arguably, there could be hidden details about the whole issue. The fact remains that the encryption levels are astonishingly high, and all the traffic should be encrypted, leaving no room for exemptions.
Having unencrypted traffic means that there are high chances for attackers to gain access. Through accessing the unencrypted data, a third party can interfere with traffic flow between the interconnected devices. Similarly, grand data theft or alteration may take place within the entire network.
There is clear documentation about the Internet of Things security failures. Interconnected devices find their way into the market. The setup may sometimes come with obvious security blunders from the manufacturing process. When enterprises buy such devices without taking note of the mistakes, deploying them into secure networks poses a magnificent risk. The situation gets worse when attackers get a clue about the security lapse since that grants them access to the system.
Regardless of the security issues, the Internet of Things keeps registering magnificent growth. The statistics indicate a potential increment of up to 43 billion interconnected devices, come 2023. With the trend continuing, and the level of encryption remaining as high as possible, the cybercrimes are likely to become unbearable.
Most individuals have little or no knowledge about the impact of a simple hacking situation on IoT devices. The threat goes beyond the local things we see. For example, with a doorbell or any other simple circuit with a loophole for the hackers to gain access, the threat is way beyond the doorbell.
In 2017, a security breach occurred from a fish tank. What followed is a big heist, where hackers gained access to a casino via the fish tank. With the pond interconnected via the internet, it allowed operation from a remote location using a sensor. Due to the IoT security failure, the hackers managed to access more than 10GBS of data belonging to the casino.
The implications of IoT security attacks may comprise financial or an organization’s data leakage concerning sensitive infrastructure. Try to envision the damages that could occur if a large organization, like an internet firm, power station, or a health system got hacked due to the unencrypted traffic. Some of the damages may be irreversible, some even causing loss of lives. The verdict is clear; all data must exhibit 100% encryption.