True story - casino got breached through their fish tank thermostat. Yikes!
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These characteristics of IoT will help you understand why risks and threats are prevalent:
The IoT does not depend on human intervention to function.
Multiple devices through an interconnected network collect, communicate, analyze and act on data.
A lot of sensitive data gets shared through IoT devices.
Here are some numbers to quantify the dangers caused by unchecked IoT adoption:
As of December 2020, DDoS attacks for the year approximated 10 million—the most DDoS attacks ever in a single year.
Over 95% of all IoT device traffic is unencrypted.
About 72% of organizations experienced an increase in endpoint and IoT security incidents last year and 56% of organizations anticipate a compromise via an endpoint or IoT-originated attack within the next 12 months.
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