Crypto Malware: The Threat of Illegal Cryptomining in Disguise

Cryptocurrency is the decentralized virtual money used in the modern method of transactions. It uses blockchain technology to buy, sell, and trade and has gained popularity worldwide. With more companies and individuals using cryptocurrency as a preferred mode of payment, hackers have become more active. According to statistics, there was a 190% hike in global cryptocurrency users from 2018 to 2022. This rise in the popularity of cryptocurrency has attributed to new digital asset crypto malware attacks,crypto-ransomware, and other malicious crypto crimes.

Read this article to learn more about crypto mining threats and how to protect yourself from malicious attacks.

What is Cryptojacking?

Cryptomining malware or cryptojacking is an illegal cybercrime process that uses a victim’s computer and gadgets to mine cryptocurrency without the user knowing. This process is usually done by embedding malware through malicious websites, phishing emails, and apps into the victim’s device or web browser. The infected device uses its own resources and becomes a perfect host, generating cryptocurrency silently.

How Does it Work?

Cryptomining is no easy feat. It requires solving complex mathematical puzzles to add new coins into the circulation of the blockchain network. It is a time-consuming and costly operation that depends on powerful computing and energy resources. That is where the crypto-malware comes in!

A crypto hacker steals the computing power of the host computer by hijacking the system without being detected. These hacked systems run the crypto-mining malware in the background and send the results to the hacker. Thus creating new coins without being burdensome to the hacker’s resources. These malware attacks are carried out through two methods:

• Website-based attack: By infecting a website or pop-up ad with the crypto-mining script that automatically executes itself each time the browser opens.
• Host-based attack: By luring the user to click on an infected email link that downloads crypto-mining malware into the host computer.

How to Detect a Compromised Computer System?

Watch out for the following signs in a system to detect whether it is under attack:

• Poor Performance:

A lagging, crashing, or slow computer is a surefire sign that a system is infected with malware.

• Overheating:

Overheating is caused by a fan running faster than its usual speed. Excessive workload due to the unwanted background processes results in an overheated device.

• Central Processing Unit’s Performance:

Odd spikes in the usage performance of a CPU when visiting a pretty basic website indicate the presence of malware script.

Preventing Cryptojacking Attacks:

Prevention is better than cure. It is best to practice preventive measures.

• Always keep the software of your devices up to date with the latest fixes and patches offered.
• Never download or install any app or software through an untrusted source.
• Always avoid suspicious links and websites. These may contain malicious scripts.
• Enable ad-blocker extension in the browser.

Conclusion:

With the rise in popularity of cryptocurrency, crypto malware, and crypto-jacking crimes have taken a toll. The hackers will always find loopholes and glitches in crypto technology. However, It depends on us to understand, detect, and prevent our systems from becoming a mining field for attackers.

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