Crypto mining has become the trend for cyber crooks rather than the old fashioned ransomware. According to Kaspersky, crypto-miner encounters rose in total number, from 1.9 million to 2.7 million, as well as in share of threats detected, from 3% to 4% (2 years period).
Check the below to discover everything you need to know about crypto mining including:
- What is it?
- What does it do?
- How does it get in?
- How to recognize and prevent it?
Crypto mining emerging as the online threat that hides on a computer or mobile device and uses the machine’s resources to “mine” forms of online money known as cryptocurrencies. It’s a burgeoning menace that can take over web browsers, as well as compromise all kinds of devices, from desktops and laptops to smartphones and even network servers.
To understand the mechanics of the threat- Crypto mining and how to protect yourself and your organization against it, let’s begin with a bit of background.
What is CryptoCurrency?
A cryptocurrency is a digital asset designed to work as a medium of an exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
What is Crypto Mining malware?
Crypto Mining is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. Crypto mining malware or simply crypto-jacking is a relatively new term that refers to software programs and malware components developed to take over a computer's resources and use them for crypto mining without a user's explicit permission.
How does Crypto Mining work?
- Classic Malware: By clicking on a malicious link in an email and it loads crypto mining code directly onto your computer. Once your computer is infected, the crypto miners start working around the clock to mine cryptocurrency while staying hidden in the background. Because it resides on your PC, it’s local—a persistent threat that has infected the computer itself. This classic malware that takes advantage of bugs and vulnerabilities in the system to allow the exploit’s creator to take control.
Are you attacked by Crypto mining?
Monitor your organization by the following steps to check whether you are a victim of crypto mining.
- Utilization of server: If you are attacked you will see a sudden and sustained increase in server utilization.
- The theft of your computing resources slows down other processes
- Increases your electricity bills
- Shortens the life of your device.
- If your PC or Mac slows down or uses its cooling fan more than normal.