Microtransactions in games are predicted to reach USD 106.26 billion by 2026. This makes game companies an easy target for cyber attackers.
This is revealed from Akamai's latest State of the Internet report, which explores the spike in cyber attacks against web applications in the gaming industry that has more than doubled over the past year.
In the report, titled State of the Internet - Gaming Respawned, these attacks stem from the skyrocketing popularity and demand for cloud gaming platforms.
Attacks on web applications in the gaming sector put game players' accounts at risk of being hacked by cybercriminals. As a result, the sale of game accounts and the theft of personal information, including credit card data, is back on the rise.
This report reveals the fact that 37% of the total DDoS attacks undermine the gaming industry. This figure is so large because the percentage surpasses the financial sector in second place with 22%.
Other findings outlined in State of the Internet - Gaming Respawned include:
Attacks against web applications in the gaming sector jumped 167 percent between Q1 2021-Q1 2022 affecting millions of video game player accounts worldwide.
The main target countries are the United States, followed by Switzerland, India, Japan, Britain, and other countries in Europe and Asia.
Gaming companies are shifting their operations to the cloud, making it a lucrative new field for hackers.
Microtransactions that are common in the gaming industry are a means for criminals to act unnoticed by targeting the financial capabilities of gamers.
"Typically, cybercriminals target live services and shared credentials to steal gaming assets. In addition, as the gaming industry expands to cloud technology, there are potential new threats that criminals use to target new players. Our new report, entitled State of the Internet - Gaming Respawned exposes the reasons and facts for the proliferation of crime, fraud, and money laundering in the gaming industry today," said Jonathan Singer, Akamai's Senior Strategist for the Media & Entertainment Industry, in a statement received by us, Thursday (11/8/2022)