Cryptojacking is where cybercriminals create malicious software that steals processing power once downloaded on victims’ computers. This means that the impacted computer begins to run slower than it had previously; computing power stolen from infected computers is then used to mine and create a cryptocurrency for the benefit of the cyber-criminal.
What Is Cryptocurrency Mining?
Cryptocurrency mining involves vast networks of computers that operate around the world that verify and secure blockchains. Blockchains are a record of cryptocurrency transactions stored on a decentralised distributed public ledger. Cryptocurrency mining requires large amounts of computing power to yield results and the more power available to crypto miners the faster they will be able to mine cryptocurrency.
Why Is Cryptojacking A Concern?
Whilst cryptojacking does not steal anything other than computing power it can still disrupt infected devices. Each device that is infected may be noticeably slower than what it should be, this can have a knock-on effect on the computer user as it will take the computer longer to complete tasks. Infected devices may also see their batteries overheating due to increased usage which may cause damage and can see infected devices shutting down abruptly. The fact that infected computers are using more processing power, can mean that they are using more energy than normal; this can mean owners of infected devices may be subject to paying higher energy bills.
How Are Devices Infected With Cryptojacking Malware?
- Phishing Schemes: If device users click on malicious links within phishing emails they may be unknowingly downloading crypto-jacking malware or a range of other malware which may be more damaging to the computer. To reduce the risk of phishing schemes you should avoid clicking links within emails; phishing emails are often designed to look legitimate which can trick people into clicking links. Instead of clicking the link in the email you should search the website on Google, but without entering the URL that is in the email.
● Text/Banner Advertisements: Malware can be embedded within advertisements that are displayed on legitimate websites, once clicked they may redirect victims towards infected devices which download malware. To avoid being a victim of this you should avoid clicking website banners and instead type the company name into Google if you feel compelled to visit the website.
- Use A VPN: Cryptojacking malware can be embedded within wireless networks themselves, malware often infects public wireless networks such as train stations and coffee shops. By principle, you should avoid using public networks, but if you must you should use a virtual private network (VPN). Which masks the IP address of computer devices and makes them much harder for cybercriminals to find to infect with malware. VPN networks are not infallible, with the right knowledge and resources hackers can still breach them. For maximum security, you should be using your mobile network’s 4g or 5g functionality.
How To Prevent Being A Victim Of Cryptojacking?
- Businesses Should Train Their Employees About Cryptojacking: The more knowledge the average employee has available to them about protecting the cybersecurity of the organisation the better the overall cybersecurity will be. Employees will know how to avoid cyber security causes for concern, or if they don’t they can refer back to a cyber security document that you should ensure that each employee has access to; which can provide further information to employees whenever they need it.
- Use Browser Extensions Designed To Block Coin Mining: You can download browser extensions that will not allow your computer to mine for cryptocurrency. When you are searching for such software you should ensure that you are downloading from a trusted source, to reduce the risk of you accidentally downloading malware instead.
- Monitor Computer Resources On Your Computer: You can download tools that you can use to detect how much computer resources are being used at any given time. By closing all the tasks you have running on your computer you can then check if your computer is using processing power without your knowledge.
- Install The Latest Software Updates And Packages: When software developers release software updates hackers then attempt to look for vulnerabilities in the software. Once software developers notice that there is a security flaw in their software they will release a security update, once downloaded the update will provide increased protection. However, if this update is not installed people’s devices will still be at risk.
- Install Antivirus Software: Antivirus software can be used to scan devices for malware, once detected antivirus software removes and destroys malware. Some antivirus software can automatically scan for viruses, but for others, you will need to perform a manual scan. It is important to periodically scan your computer for viruses and malware for the benefit of your overall cyber security.
- Patch And Harden Computer Servers: Computer servers can be infected with malware, it is important to regularly run antivirus scans on computer servers and ensure that you remove as many security vulnerabilities as possible.
How To Respond To A Cryptojacking Attack
- Perform Antivirus Scans On All Devices, Servers and Networks: By scanning each device, server and network you can detect malware and viruses and act accordingly to remove the cybersecurity threat from your devices.
- Learn From This Experience: It is possible that you clicked on a malicious link or connected to an infected wireless network, you should use this experience to learn from your mistakes and become more cybersecurity aware in your future actions.
- Do Not Allow Infected Devices To Come Into Contact With Healthy Devices: Malware can spread throughout your devices if it is allowed to, to avoid this you should ensure that you do not connect to infected devices in any way until the malware is eliminated.
Conclusion
Cryptojacking can cause significant disruption to users of infected devices which can cause a reduction in productivity. Steps should be taken to avoid the installation of malware onto computer devices, if you were to find out that your device is infected with any kind of malware you should remove it as soon as possible. If a device that you own has been infected and your cryptocurrency accounts are breached you should contact crypto recovery lawyers to recover any lost cryptocurrency.
