Cryptojacking attacks have jacked global headlines.

Cryptojacking Attacks have Jumped 1,000%

In the first half of 2018, detected instances of cryptojacking – the commandeering of computers to mine cryptocurrencies – jumped about 1,000%.

In fact, according to Trend Micro:

We saw “a noticeable shift away from highly visible ransomware to a more discreet detection: cryptocurrency mining. These damaging threats split limited security resources and divide the focus of IT administrators.”

As a matter of fact, unwanted mining on a computer or a network can have significant amount of negative effects including slowing down performance, wearing down hardware and increasing power consumption.  Security researchers have asked people to protect themselves from crypto jacking by monitoring power usage and looking out for unauthorized activity.

How it Works

Cryptojacking criminals are able to break into a web server and inject mining code.  It then mines for cryptocurrency whenever anyone visits a website.

Other hackers are bypassing such mining attacks, and are instead hacking exchanges directly.

“With CPUs that are not specifically made for crypto mining, it could be detrimental to your hardware,” says Carles Lopez-Penalver, intelligence analyst at Flashpoint, as quoted by CSO Online. “They can burn out or run more slowly.”

In fact, Coincheck and Coinsecure at two recent examples.

“Interestingly, these trends persisted even as the value of cryptocurrency itself declined throughout the first half of the year,” the report noted.

 

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