In the so-called 'crypto-winter' there's still money to be made through Bitcoin mining, even more so when it's done using somebody else's equipment.
You may not yet be aware of ‘crypto-jacking,’ nevertheless, this form of cyber-attack is very much on the rise, with reported cases up 30% in the first half of the year.
Global crypto-jacking volumes rose by US$66.7mln, compared with the first half of 2021, to its highest level on record, according to American cybersecurity company SonicWall.
What is crypto-jacking?
Crypto-jacking is the unauthorised use (hijacking) of someone else’s computer to mine cryptocurrencies.
The cybercrime has often been accomplished by exploiting vulnerabilities in web browsers and extensions.
Hackers generally aim to hijack a variety of systems including desktops, servers and cloud infrastructure.
Crypto-jacking code usually runs in the background and in tandem with the user’s systems.
It is difficult to notice that a system has been breached, with the main signs being slower performance, overheating, excessive power consumption, lags in execution and abnormally high cloud computing bills, according to CSO Online.
Why do hackers use crypto-jacking?
Crypto mining requires a substantial amount of computational power, which relies on huge levels of energy.
The digital currency ecosystem was designed in a way that makes mining more difficult and decreases the rewards over time.
Therefore, as well as being a very costly affair due to energy usage, expenses rise with time as returns fall.
So, cybercriminals can illicitly mine cryptocurrencies for a cost of next to nothing through crypto-jacking.
How can you prevent crypto-jacking?
Despite it being relatively difficult to notice if your device or system has been hijacked, there are some measures you can take to prevent such attacks.
Using ad blockers is often one of the most effective ways – crypto-jacking scripts are normally embedded in web ads - as they block and detect malicious crypto-mining code
Disabling JavaScript when browsing online is another frequently used method to prevent crypto-jacking code from corrupting computers.
You should also avoid clicking links in emails from unknown sources that may contain crypto-jacking code.
Anti-crypto-mining extensions should be adopted to block crypto-miners, for example No Coin, minerBlock and Anti Minder.