Cryptojacking Creates Greater Risk as it Lurks in the Background


What is Cryptojacking?

Cryptojacking is the unauthorized use of mobile devices, laptops, as wells as business and personal computers. By hacking into these technological devices, cybercriminals are able to install software that mines for cryptocurrency. For those of you who do not know, cryptocurrency is digital money that is used in the form of coins. One of the familiar forms of cryptocurrency is Bitcoin, and it is crazy that there are over 3,000 other forms of cryptocurrency.


Cryptojacking Happens in the Background

When cybercriminals install the software on a technological device, the software works in the background by mining for cryptocurrencies. Well, you might be thinking, how would I know if a cybercriminal was cryptojacking my device? You may experience a slower performance in the device you are using.


The Dangers Behind Cryptojacking

When a device is cryptojacked, no only is its performance slower, but it also has other major effects as well. A technological device can overheat, there can be an increased processing usage, and for a company, this can mean higher electricity bills.


An instance of a recent cryptojacking incident occurred in August of 2018, when security firm, Trustwave, found evidence of a cryptojacking campaign in routers from a manufacturer called, MikroTik. The attack infected 72,000 routers in Brazil, but later, it expanded to more than 200,000 units.


Cryptojacking Methods

There are three main tactics cybercriminals use in order to secretly mine for cryptocurrencies:


File-Based Cryptojacking: This occurs when malware is downloaded onto a device and it runs a file that leaks crypto mining script. This method is typically used in the form of emails. Usually, the email contains a link or attachment, and when a user clicks on it, the crypto mining script is downloaded and works in the background.


Cloud-Based Cryptojacking: Cypercriminals search through a company’s files and codes for API keys in order to hack into their cloud services. Once cybercriminals have access to the cloud services, they implement CPU resources for crypto mining.


Browser-Based Cryptojacking: Cryptojacking can occur within a web browser. Hackers embed crypto mining scripts into websites, and the script will run automatically on the user’s device. These scripts are most commonly embedded in ads online and on websites.


Steps to Take Now

Cryptojacking can have unrecognizable effects on your company’s technological devices. If you think you are at risk of being cryptojacked, we can help! You can schedule a free consult today, on our website! We can access your worries and problems and help you figure out the best course of action.

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