Internet census experiment showed us all how easy it is to create a botnet. AusCERT further analyzed data available from the experiment..
Key facts:
1) there is ~8.88 vulnerable devices per 100 class C ranges out there;
2) scanning 10 IPs/sec would take 4.78 minutes to find such device;
3) due to huge number of such unprotected devices (~1.2 million) available, it could pose threat similar to one with open DNS resolvers issue (threat update #4).