As a majority of the population has shifted to the digital platform, there has been a rise in activities taking place on the internet. From financial transactions to shopping, most activities are now available digitally. This is where cryptocurrencies and cryptojacking come into the picture. The process of cryptojacking allowed people to steal with lower risk and higher potential for financial gain.
What is cryptojacking?
The unauthorized use of someone else’s computer system to steal its resources in order to mine online currencies like Bitcoin is known as cryptojacking. Hackers practice cryptojacking either by getting the victim to click on a malicious link sent to them through an email or by infecting their computer system via an online ad or a website with JavaScript code. With the help of cryptojacking, cybercriminals can hack into any user’s laptop, personal computer, mobile device, or business computer network to install malicious software.
What Is a Cryptojacking Attack?
Over the last couple of years, cryptojacking has become a serious global issue. A cryptojacking attack takes place when a cybercriminal gains unauthorized entry into the computer system of the victim with a motive to make money with minimal risk and effort. They hack into the computer systems to mine for cryptocurrencies. In a recent attack, cybercriminals used YouTube to install cryptojacking malware on to the computer systems of users.
Companies can prevent cryptojacking by training their IT team, using the anti-cryptomining extension, educating employees about cryptojacking, disabling JavaScript, and by using ad blockers to block malicious code.
How Does Cryptojacking Work?
Cryptojackers use one of three methods to maliciously mine for cryptocurrencies:
Browser-Based Cryptojacking
This type of cryptojacking attack takes place directly within a web browser. Attackers use IT infrastructure to mine for cryptocurrency. With the use of a programming language, hackers create a cryptomining script, which is then embedded onto numerous websites.
File-Based Cryptojacking
A file-based cryptojacking attack takes place when malware is downloaded, and an executable file is run on a computer network. This malware then spreads a cryptomining script throughout the infrastructure of the computer network. This is the most common way through which cryptojacking attacks occur.
Cloud Cryptojacking
A cloud cryptojacking attack takes place when a cybercriminal uses it to search through an organization’s files and code to find the API keys, using which they can access their cloud services. Once they gain access, hackers siphon unlimited CPU resources for cryptomining.
How to Detect Cryptojacking?
It is essential for organizations to stay alert against a potential cryptojacking threat that can affect their operations and compromise their computer systems. Users can detect a cryptojacking threat by keeping in mind the following steps:
- Be aware of a decrease in performance in your computing device.
- Watch out for overheating of devices and running fans that are meant for cooling the same.
- Monitor computer systems for an increase in CPU usage (this can be a red flag).
- Check for coding and file changes on your site.
- Scan for malware.
- Follow the latest crypto-news to stay alert and updated against any threat.
Ransomware vs Cryptojacking
While ransomware attacks can be complicated, it involves patience, research, and planning for the malware to develop and deploy itself. On the other hand, a cryptojacking attack can be less complicated as it takes less time to initiate.
Want to Learn More About Cyber Security?
EC-Council University is an American university offering accredited, online Bachelor of Science in Cyber Security , Master of Science in Cyber Security degrees and Graduate Certificate Programs (GCPs) in Cyber Security.
