Many consider the idea of automating their home with smart devices for all the right reasons:

Domotics or home automation, makes nearly every aspect of domestic activities easier to accomplish, especially those repetitive or routine in nature. Tasks as simple as turning off lights, adjusting thermostats, observing and/or communicating with family members situated in other parts of the house, and seeing who’s at the door, are few examples of actions that smart devices can address without need of human intervention.

The most important benefit of smartening a home is its ability to lower electric bills by automatically turning off lights and thermostats in rooms where human activity is not detected. That goes without saying that smart homes are good for the environment, as far as reduction of power consumption is concerned.

Providing peace of mind is another much touted benefit offered by smart home technologies. It can beef up a home security at a lesser cost, as opposed to installing costly home security systems. Homeowners can check the current status of things running at home or allow checking on younger members of the family within or out of the house.

Peace of mind however, is not as all encompassing. Since smart devices automating a home are Internet connected, the one great fail that can wipe away all those smart home benefits are cyber attacks perpetuated through all things linked to the Internet of Things (IoT).

Data and Cyber Security Company Warns of Threats Faced by Smart Homes

Trend Micro, a company that provides safeguards against cyber attacks released reports of issues that could make smart home owners easy targets for criminal activities. An automated home can be compromised by a router that allows visits to malicious sites because of weak passwords and/or badly configured wireless network.

Stealing can be as simple as a acquiring a malware that makes it possible to divert extra costs of electricity to unsuspecting smart home homeowners. An infected smart home device can be used to launch a Denial of Service (DoS) attack to a specific target by overloading the latter with massive unnecessary requests mostly coming from legitimate sources.

Researchers at Trend Micro believe that such nefarious activities have links to the bitcoin mining industry. Once an attack prevents a homeowner user from accessing personal assets, a badly compromised smart device may start producing cryptocurrency benefiting the perpetuator.