Hackers using Log4j bug to profit from victim IP addresses through ‘proxyjacking’ scheme

Researchers from Sysdig, a digital security firm, have uncovered a new cybercriminal activity dubbed “proxyjacking.” Hackers exploit the Log4j vulnerability to gain initial access to a device or system and sell off its IP information to proxyware services. This could be even more lucrative, and easier to get away with, than cryptojacking as proxyjacking uses less computing power and energy. Importantly, this could be a significant financial cost for organizations as some cloud companies charge based on traffic amounts.