We analyze the increasing threats against IoT devices. We show that Telnet-based attacks that target IoT devices have rocketed since 2014. Based on this observation, we propose an IoT honeypot and sandbox, which attracts and analyzes Telnet-based attacks against various IoT devices running on different CPU architectures such as ARM, MIPS, and PPC. By analyzing the observation results of our honeypot and captured malware samples, we show that there are currently at least 5 distinct DDoS malware families targeting Telnet-enabled IoT devices and one of the families has quickly evolved to target more devices with as many as 9 different CPU architectures.