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In October 2016, the Mirai DDOS Attack neutralized several major web services in the US and Europe. It created large revenue losses as the network was paralyzed and data streaming was impossible. Weak, or lack of, authentication allowed non-authorized servers (cyber criminals) to update the devices with a bot which was dormant until a coordinated attack was launched. If the IoT device had been equipped with a unique, trustable, verifiable identity and a strong mutual authentication mechanism it would have been a lot more difficult for the cyber criminals to remotely turn these connected devices into an army of bots. A secure IoT ecosystem demands security from cloud to every node. Other attack schemes leverage a single vulnerable node and lead to a large attack vector.
