What is Cryptojacking? How to Detect & Prevent it?
Cybercriminals make a wide range of strategies to accomplish their evil objectives. Sadly, the cryptocurrency industry is not exempt. Recently, a new type of cybercriminal activity has come to the light and it’s called cryptojacking.
Here, we’ll discuss what does cryptojacking mean and how it operates?
What Does it Mean?
It is a cyberattack in which an attacker hijacks a system to mine a user’s cryptocurrency. It is also known as malicious crypto mining. Cryptojacking attacks are being carried out by infecting websites, phishing, malware, or web applications.
Before digging deeper into crypto jacking, let’s have a look at what is cryptocurrency.
Brief Introduction to Cryptocurrency
A cryptocurrency is a form of virtual or digital currency which functions as a medium of exchange via the network. It is not funded or maintained by a single central organization (such as a bank or government).
Different types of cryptocurrency:-
- Bitcoin (BTC): It is a type of digital currency in which a record of transactions maintains and new units of currency generates by the computational solution of mathematical problems, and which operates independently of a central bank.
- Ethereum (ETH): It is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party.
- Tether (USDT): It was one of the first and most popular of a group of so-called stablecoins—cryptocurrencies that aim to peg their market value to a currency or other external reference point to reduce volatility
- USD coin (USDC): It holds an amount of fiat currency equal to the amount of USD Coin in circulation
- BNB: Binance coin or BNB is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange.
- XRP: It is the native token for the XRP Ledger, created as a payment system by Ripple in 2012
- Dogecoin (DOGE): It uses an image of the Shiba Inu as its avatar, is accepted as a form of payment by some major companies
- Cardano (ADA): It is an “Ouroboros proof-of-stake” cryptocurrency creates with a research-based approach by engineers, mathematicians, and cryptography experts
- Polygon (MATIC): It is an Ethereum token that powers the Polygon Network — a protocol and framework for building and connecting Ethereum-compatible blockchain networks
- Dai (DAI): It is a stablecoin on the Ethereum blockchain whose value is kept as close to one United States dollar as possible through a system of smart contracts and the decentralized participants incentivize those contracts to perform maintenance and governance functions.
How Does Cryptojacking Work?
Cryptocurrency is based on 3 methods i.e. file-based, browser, and cloud-based.
In this attack, a cybercriminal sends a malicious email attachment or a link when a user clicks on automatically 2 program downloads, the first crytojacking program, and the second is a malware program.
The attacker determines whether a cryptojacking attack or a ransomware attack would be the most profitable after assessing the targeted system’s software configuration, hardware configuration, and anti-malware protections.
Alternatively, the cryptojackers might not even install a program. Visitors’ web browsers may automatically launch a small bit of crypto-mining code that has been embedded in a website, WordPress plugin, or advertisement.
In a different kind of cloud-based cryptojacking assault, hackers first steal credentials before inserting their scripts into the system.
How to Detect Cryptojacking?
As we all know that this attack becomes the main issue for cryptocurrency users. So, here are some of the signs you may notice to detect this type of cyberattack.
- Overheating: – Your devices may overheat due to cryptojacking’s resource-intensive procedure. This may eventually cause damage to your device or limit its lifespan.
- Decrease in performance: – Make careful to run checks if you observe a drop in performance from your computing devices. Desktops, laptops, tablets, and mobile devices are all included in this. Typically, the first indication that crypto mining is occurring is slower systems.
- Spike in CPU usage: – Cryptomining is a significant resource guzzler, therefore it’s simple for the machines conducting it to stand out. Using this information, you may monitor CPU spikes and set up alerts for when CPU consumption on machines that doesn’t typically surpass a specific threshold rises.
Types of Cryptojacking
Cybercriminals do crytojacking in different ways. Let’s discuss the following.
- Host cryptojacking :- This approach functions similarly to common malware and phishing attempts.
Cybercriminals tricks victim by clicking on URLs that download crypto mining software onto their devices.
How to Protect Yourself from Cryptojacking?
Cryptojacking has become dangerous for crypto users. But if you stay aware of these kinds of cybercrimes you will never end up the victim of cryptocurrency fraud. So there are some precautions you have to know about.
- Update all of your software and hardware with the most recent patches and fixes Because Numerous attacks take advantage of existing software’s known flaws.
- Install software only from reliable sources.
- The websites that host these harmful scripts should be avoided. Such as torrenting URLs.
- Block ads from browsers.
- Make sure your device has trusted antivirus software.
- Educate your employees.
The possibility of cryptojacking has increased, but most users may protect themselves by making a few adjustments to their browsing or maintenance routines. Alternatively, you might upgrade to more comprehensive anti-virus protection to lighten the stress on your schedule.
You might be surprised at how simple it is to find affordable coverage and direct support.
You can contact India’s top cyber expert Mr. Anuraag if you require expert assistance.