Gen Q4 Threat Report: 321 Threats Blocked Per Second as Social Media Becomes a Playground for Scammers

Rhea-AI Summary

Gen (NASDAQ: GEN) released its Q4/2024 Threat Report, revealing a significant surge in cyberthreats with 2.55 billion threats blocked (321 per second). Social engineering attacks comprised 86% of all blocked threats, with a risk ratio of 27.7% in Q4.

Key findings include a 14% rise in phishing attacks and malvertising accounting for 41% of blocked attacks. Social media platforms were major threat vectors, with Facebook representing 56% of identified threats, followed by YouTube (24%) and X (10%). The main scam types were deceptive online ads (27%), fake e-shops (23%), and phishing (18%).

Financial scams peaked in Q4, highlighted by the largest deepfake crypto scam that stole over $7 million. Mobile banking trojans saw significant growth, with BankBot infections increasing by 236% compared to Q3. Personal data threats also escalated, with Gen blocking attacks targeting 4.2 million individuals, a 130% increase from Q3. Ransomware showed a 50% increase in Q4.

Positive

• Blocked 2.55 billion cyberthreats in Q4 2024
• Successfully protected 4.2 million individuals from scam attacks
• Introduced new Clipboard Protection feature across Norton, Avast and AVG brands

Negative

• 14% increase in phishing attacks in Q4 2024
• 50% increase in ransomware attacks
• 236% surge in BankBot banking trojan infections compared to Q3
• 130% increase in personal data targeting attacks from Q3

Insights

Cybersecurity Market Analyst

Gen's Q4 threat report reveals several strategic advantages that strengthen its competitive position in the $173.5 billion cybersecurity market. The company's ability to block 2.55 billion threats demonstrates superior threat detection capabilities, while the 27.7% risk ratio highlights the growing need for comprehensive security solutions.

Three key developments warrant investor attention:

• The dominance of social engineering attacks (86% of threats) and increased phishing activity (14% growth) indicates Gen's products are effectively addressing high-priority threat vectors. This positions the company to capture premium pricing in the consumer segment.
• Gen's early detection of AI-powered scams and introduction of clipboard protection shows strong R&D capabilities and quick product iteration. This agility in addressing emerging threats could drive customer retention and upsell opportunities.
• The concentration of threats on major platforms (Facebook 56%, YouTube 24%) aligns with Gen's consumer-focused strategy, potentially enabling more efficient marketing and customer acquisition.

The 50% surge in ransomware activity and evolution of mobile banking trojans suggest expanding market opportunities. Gen's multi-brand portfolio (Norton, Avast, LifeLock, etc.) enables targeted solutions for different customer segments, potentially supporting higher average revenue per user (ARPU).

The report's findings suggest strong fundamentals for Gen's subscription-based revenue model, as persistent and evolving threats drive continued demand for comprehensive security solutions. The company's demonstrated ability to detect and counter sophisticated threats while rapidly deploying new protective features indicates robust operational execution and potential for margin expansion.

Social media, AI and human trust led to a record-breaking year of advanced scams and personal data loss

TEMPE, Ariz. and PRAGUE, Feb. 13, 2025 /PRNewswire/ -- Gen™ (NASDAQ: GEN), a global leader in consumer Cyber Safety with a family of brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner, today released its Q4/2024 Gen Threat Report. The report reveals a surge in online threats to close out a record-breaking 2024, with 2.55 billion cyberthreats blocked in October to December – equaling 321 threats every second. The risk ratio of encountering threats reached 27.7% in Q4, with social engineering attacks comprising 86% of all blocked threats, demonstrating the advanced psychological tactics used by cybercriminals today.

"We're continuing to see scam-related threats becoming far more dangerous as they hide, sometimes in plain sight, throughout every aspect of our digital life," said Siggi Stefnisson, Cyber Safety CTO at Gen. "This quarter we saw them prey on people's emotions, such as the need to shop on budget during the holidays, the desire to find love during the end of the year, the hope for change during government elections and more. And, unfortunately, this is resulting in people continuing to lose money and control over their personal information. In 2025 we only expect these risks to increase as the rise of AI-powered systems and devices will mark the next frontier for cybercrime."

The Dark Side of Social Media

Scam-related attacks continue to demonstrate global reach and adaptability. Phishing attacks rose by 14% in Q4/2024, with many exploiting platforms for creating websites like Wix and spoofing brands such as Apple iCloud with fake invoice scams. Meanwhile, malvertising remained a leading method of driving scams and malware delivery, comprising 41% of all blocked attacks for the quarter.

Social media platforms remained one of the prime grounds for scams and cybercrime at the end of 2024. Facebook stands out, accounting for a staggering 56% of total identified threats. YouTube trails behind at 24%, followed by X with 10% and Reddit and Instagram both accounting for 3% of all social media threats. When it comes to messaging platforms, despite WhatsApp's larger user base, Telegram experiences six times more threats due to scammers utilizing the platform's additional privacy features to make their crimes harder to track by authorities.  

The ways that scammers are using social media vary with such different people and use cases for the platforms. Gen found that the main ways people were scammed across social media were:

• Deceptive online ads (Malvertising) (27%): These deceptive ads spread malicious software onto the device being used or redirected people to malicious websites that can do the same.
• Fake e-shops (23%): People are lured by fraudulent online stores, also exposing personal and financial data.
• Phishing (18%): Scams aimed at stealing sensitive information like credit card numbers or passwords.

Social media is quickly turning into a playground for scammers to leverage platform algorithms, AI, and personalized interactions to scale their attacks faster and more effectively than ever before. Read the full analysis on social media threats in our latest blog.

Year-End Spike in Financial Scams

October through December marked the year's most active quarter for financial scams, with mobile phones serving as a primary attack vector. Leading this trend were:

• The largest deepfake crypto scam: The infamous CryptoCore group, known for hijacking YouTube accounts to promote their crypto scam campaigns, capitalized on the US Presidential Election. They used deepfake videos featuring figures like Elon Musk to steal over $7 million from its victims. This marked the largest attack of its kind. 
• Mobile banking trojans: New mobile bankers, phone applications designed to steal banking information, launched in Q4/2024. This included DroidBot which used remote access capabilities to go after banking details and crypto wallets. Another was ToxicPanda that disguised itself as Visa, dating apps and Chrome. The well-known BankBot banker saw infections rise by 236% compared to Q3/2024.
• Spyware and SpyLoans: Malicious apps promising quick money with high interest rates and predatory repayment schedules also surged this quarter. Once installed, these apps request access to SMS messages, photos and other sensitive information, allowing them to spy on the victim. After a few weeks, the victim faces extortion and threats of their private data being published unless they pay the cybercriminals. A new spyware strain disguised as a body mass index (BMI) calculator spread via the Amazon App Store, a novel distribution tactic reflecting the rising number of official Android app stores.

Personal Data – The New Gold

Personal data loss continued to pose a high risk of identity theft and loss of privacy for consumers. Scam-Yourself Attacks, such as ClickFix and FakeCaptcha, grew rapidly. In Q4, Gen blocked attacks targeting 4.2 million individuals, a 130% increase from the previous quarter. These campaigns use psychological manipulation to deceive people into copying and executing malicious code, potentially leading to financial fraud, account takeovers or malware infections.

To help people stay protected from this threat and keep their data safe, Gen introduced a Clipboard Protection feature across the Norton, Avast and AVG brands that blocks clipboard-based threats before they can execute. 

For the third consecutive quarter, ransomware continued its alarming upward trend, with a notable 50% increase in Q4. This highlights an escalating threat for both organizations and individuals globally.

To read the full Q4/2024 Gen Threat Report, visit: https://www.gendigital.com/blog/insights/reports/threat-report-q4-2024

About Gen

Gen™ (NASDAQ: GEN) is a global company dedicated to powering Digital Freedom through its trusted Cyber Safety brands, Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. The Gen family of consumer brands is rooted in providing safety for the first digital generations. Now, Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to nearly 500 million users in more than 150 countries. Learn more at GenDigital.com.

Media Contacts:

Brittany Posey-Thomas
Gen
Press@GenDigital.com

Courtney Rowles
Edelman for Gen
Courtney.Rowles@edelman.com

 

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SOURCE Gen Digital Inc.

FAQ

How many cyberthreats did Gen (GEN) block in Q4 2024?

Gen blocked 2.55 billion cyberthreats in Q4 2024, averaging 321 threats per second.

What percentage of social media threats occurred on Facebook for Gen (GEN) in Q4 2024?

Facebook accounted for 56% of all identified social media threats in Q4 2024.

What was the increase in ransomware attacks reported by Gen (GEN) in Q4 2024?

Gen reported a 50% increase in ransomware attacks during Q4 2024.

How much money was stolen in the largest deepfake crypto scam identified by Gen (GEN) in Q4 2024?

The CryptoCore group's deepfake crypto scam stole over $7 million from victims in Q4 2024.

What was the percentage increase in personal data targeting attacks for Gen (GEN) in Q4 vs Q3 2024?

Gen reported a 130% increase in personal data targeting attacks from Q3 to Q4 2024, affecting 4.2 million individuals.