What Is Cryptojacking?
Cryptojacking is the unauthorized use of someone else’s computer to mine cryptocurrency. Hackers do this by either getting the victim to click on a malicious link in an email that loads crypto mining code on the computer. Or by infecting a website or online ad with JavaScript code that auto-executes once loaded in the victim’s browser.
Either way, the crypto mining code then works in the background as unsuspecting victims use their computers normally. The only sign they might notice is slower performance or lags in execution.
What Is Cryptocurrency?
For those not familiar with this fairly new terminology, cryptocurrency is a form of digital currency that you can use it in exchange for goods, services, and even real money. Users can mine it on their computer by using special programs to solve complex, encrypted math equations in order to gain a piece of the currency.
How to Detect Cryptojacking?
As with any other malware infection, there are some signs you may be able to notice on your own.
Symptoms of cryptojacking
- High processor usage on your device
- Sluggish or unusually slow response times
- Overheating of your device
How Does Cryptojacking Work?
Hackers have two primary ways to get a victim’s computer to secretly mine cryptocurrencies. One is to trick victims into loading cryptomining code onto their computers. Hackers do this by using phishing-like tactics. Victims receive a legitimate-looking email that encourages them to click on a link. The link runs code that places the cryptomining script on the computer. The script then runs in the background as the victim works.
The other method is to inject a script on a website or an ad that multiple websites deliver it. Once victims visit the website or the infected ad pops up in their browsers, the script automatically executes. No code is stored on the victims’ computers. Whichever method , the code runs complex mathematical problems on the victims’ computers and sends the results to a server that the hacker controls.
Hackers often will use both methods to maximize their return. “Attacks use old malware tricks to deliver more reliable and persistent software [to the victims’ computers] as a fall back,” says Vaystikh. For example, of 100 devices mining cryptocurrencies for a hacker, 10 percent might be generating income from code on the victims’ machines, while 90 percent do so through their web browsers.
Unlike most other types of malware, cryptojacking scripts do no damage to computers or victims’ data. They do steal CPU processing resources. For individual users, slower computer performance might be just an annoyance. Organization with many cryptojacked systems can incur real costs in terms of help desk and IT time spent tracking down performance issues and replacing components or systems in the hope of solving the problem.
Why Is Cryptojacking Growing?
It’s hard to explain how cryptocurrencies gain monetary value. However, it is based in part on the principle of supply and demand, and the difficulty of obtaining the cryptocurrency. For example, there are only a finite number of Bitcoins that have not been completely mined. There are other variables such as how easy the currency is to use, the energy and equipment put into mining it, and more.
For these reasons and others, cryptocurrency has fluctuated in value in the past several years. In 2010, a Bitcoin was set at less than 1 cent. Before the end of 2017, the value soared to almost US$20,000 a Bitcoin. As of June 2018, some cryptocurrencies equal as much as US$6,750.83 per unit.
In a sense, cryptojacking is a way for cybercriminals to make free money with minimal effort. Cybercriminals can simply hijack someone else’s machine with just a few lines of code. This leaves the victim bearing the cost of the computations and electricity that are necessary to mine cryptocurrency. The criminals get away with the tokens.
Toward the end of 2017, when the value of cryptocurrency was at its peak, there were about 8 million coin-mining events blocked by Symantec in December alone. Because cryptojacking can yield lucrative results, coin-mining activity increased by 34,000 percent over the course of the year.
Cryptojacking in action
You can find cryptojacking malware across multiple platforms and devices, including Macs, since these attacks can be executed in a browser. Interestingly enough, the second most common Mac malware strain is a stealthy cryptocurrency mining application.
In September 2017, a user on Twitter pointed out that a few of Showtime’s online streaming websites had a script running in the background that was used to mine cryptocurrency. In February 2018, a researcher found malicious cryptojacking code on the Los Angeles Times website.
How to Prevent Cryptojacking?
Whether you’ve been cryptojacked locally on your system, or through the browser, it can be difficult to manually detect the intrusion after the fact. Likewise, finding the origin of the high CPU usage can be difficult. Processes might be hiding themselves or masking as something legitimate in order to hinder you from stopping the abuse. As a bonus to the cryptojackers, when your computer is running at maximum capacity, it will run ultra slow, and therefore be harder to troubleshoot. As with all other malware precautions, it’s much better to install security before you become a victim.
One obvious option is to block JavaScript in the browser that you use to surf the web. Although that interrupts the drive-by cryptojacking, this could likewise block you from using functions that you like and need. There are also specialized programs, such as “No Coin” and “MinerBlock,” which block mining activities in popular browsers. Both have extensions for Chrome, Firefox, and Opera. Opera’s latest versions even have NoCoin built in.
Cryptojacking Is the New Ransomware
Although Symantec saw the rise of ransomware in 2016, according to Symantec’s 2018 Internet Security Threat Report, 2017 saw fewer ransomware families — or groups of similar types of ransomware — and lower average ransomware demands than in 2016.
Conversely, cryptojacking incidents appear to be growing.
According to Kevin Haley, director of Symantec Security Response, “Stealing has moved from using a gun to using a computer. And as long as cryptocurrencies have value, criminals will use computers to steal it. What cryptojacking shows is that someone doesn’t even need to own cryptocurrency to be a victim.”
Why Cryptojacking Is on the Rise?
It is hard to explain how cryptocurrencies gain monetary value. However, it is based in part on the principle of supply and demand, and the difficulty of obtaining the cryptocurrency. For example, there are only a finite number of Bitcoins that have not been completely mined. There are other variables such as how easy the currency is to use, the energy and equipment put into mining it, and more.
For these reasons and others, cryptocurrency has fluctuated in value in the past several years. In 2010, a Bitcoin was set at less than 1 cent. Before the end of 2017, the value soared to almost US$20,000 a Bitcoin. As of June 2018, some cryptocurrencies equal as much as US$6,750.83 per unit.
According to Symantec’s Internet Security Threat Report, cryptojacking also skyrocketed in 2017.
In a sense, cryptojacking is a way for cybercriminals to make free money with minimal effort. Cybercriminals can simply hijack someone else’s machine with just a few lines of code. This leaves the victim bearing the cost of the computations and electricity that are necessary to mine cryptocurrency. The criminals get away with the tokens.
Toward the end of 2017, when the value of cryptocurrency was at its peak, there were about 8 million coin-mining events blocked by Symantec in December alone. Because cryptojacking can yield lucrative results, coin-mining activity increased by 34,000 percent over the course of the year.
This article will help you how to protect yourself against criminals and their malicious purposes. If you face any problem, don’t hesitate to leave a comment below.
