The continual proliferation and evolution of the Internet of Things (IoT) domain is posing serious security threats to the whole network. In IoT, the insecure communication channel between sensors and the Internet can lead to malicious penetrations. Poor computational resources in traditional sensors critically constraint and impact the execution of conventional security algorithms among IoT devices. Consequently, lightweight security algorithms turn out to be a feasible alternative. To keep up with the existent Internet security level, this work proposes a new security scheme that employs a unique methodology based on a one-way counter value hashing table i.e. VariBox. This scheme integrates modular arithmetic applied on Unicode UTF-16 encoding standards coupled with AES and RSA algorithms. The proposed methodology effectively offers i) low computational overhead i.e. overall processing time of 0.1 seconds (VariBox processing time 0.003 seconds) and ii) enhances the overall security of the IoT data transfer model. Once this model is employed, the overall spectrum of potential brute force solutions will be rendered computationally expensive and infeasible to be calculated within a finite time period.