What is cryptojacking?
Cryptojacking saves hackers the cost of setting up their own mining equipment, so they leech off others’ resources. Moreover, crypto mining involves complex mathematical calculations, thus consuming immense electrical power. When you add it all up, you realize how much you really lose by being a victim of this cyber-crime.
How does cryptojacking work?
Hackers usually deploy two modus operandi to enter targeted systems discreetly. The first one is by tricking users into loading slyly embedded mining codes on their respective systems through phishing — the activity of using legitimate-looking e-mails to veil malicious codes and links.
The second method used by hackers is called a ‘drive-by.’ Victims are tempted to visit infected websites on their browsers. Upon doing so, an infected ad pops up on the screen. As soon as this happens, a script automatically executes itself and loads the crypto mining code on the victim’s computer. In this case, the code is not stored in e-mails or on the target system. Security firm Malwarebytes writes that pop-ups are designed to fit behind taskbars and clocks such that they remain invisible to the human eye.
Since the motive behind cryptojacking is solely money, hackers often deploy both methods to maximize their chances of stealthily entering target systems. “Attacks use old malware tricks to deliver more reliable and persistent software
Some crypto mining codes are designed to trigger worming — a method by which the infection is spread to other devices on the same network, including the server itself. They are also much harder to get rid of and usually remain undetectable. Not to mention, hackers gain access to a huge amount of computing resources through just one infection.
How can cryptojacking be defeated?
Cryptojacking software is designed to remain hidden on your devices as they consume your resources to mine cryptocurrency on the hacker’s behalf. However, there is a silver lining — most crypto mining scripts planted on your machines do not corrupt or steal personal data. They are just there as parasites, consuming your computing resources.
Cryptojacking attacks can target desktops, laptops, tablets, and mobile phones across all operating systems. Depending on how subtly your system has been attacked, you may be able to spot some indications of a cyberattack.
Here are some bright red beacons to watch out for:
How do you protect yourself against cryptojacking?
The best way to steer clear of this threat is to run a powerful and authentic antivirus on your devices. One must periodically scan for threats in order to avoid over utilization of your resources. Coindesk recommends the following antivirus programs for the best protection:
The Interpol website says that Monero (XMR) is the most sought-after cryptocurrency for cryptojacking activities. This is because Monero allows miners to remain anonymous through its protocols. Thus, tracing XMR transactions is also a very tedious task.
(Edited by : Shloka Badkar)