Cryptojacking: A True Threat

When you think of cryptocurrency, chances are you think of Bitcoin. The king of cryptocurrency, Bitcoin has been the subject of headlines, including high-profile criminal investigations and media coverage. But while Bitcoin is the most well-known cryptocurrency, there are now thousands of other forms of crytocurrency out there. Unfortunately, with the advent of cryptocurrency, a major threat has entered into the picture: Cryptojacking.

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The Definition of Cryptojacking

Cryptojacking is a new form of online fraud that uses cryptocurrency to secretly steal computing power and generate revenue. The practice emerged around 2017 or so, when hackers began to utilize malicious websites to infect computers with malware that mined cryptocurrencies - such as Bitcoin - without the owners’ knowledge. Today, attackers can also use websites, apps and other software to secretly mine cryptocurrencies on the victims’ behalf, often without their knowledge or consent. Because cryptocurrencies are designed to be decentralized and anonymous, they are often preferred by cryptojackers because they provide them with a convenient way to launder their profits.

Indications of Cryptojacking on Devices and Networks

• CPU (Central Processing Unit) usage is significantly higher than usual
• Your device (PC and/or Mobile) begins to overheat
• Your device begins to freeze and/or become unresponsive
• Your device (PC and/or Mobile) becomes unable to hold a charge for a period of time
  Since cryptojacking involves the act of sending substantially more data to servers than usual, the proprieters of those servers may notice a spike in requests to their servers. As such, they (server proprieters) will very likely experience a significant rise in electricity/operating costs.

Means of Protection from Cryptojacking Attacks

Both Windows PCs and Macs have built-in tools to aid in the detection of cryptojacking attacks, including the Activity Monitor (Mac) and Task Manager (Windows). These tools can be used to detect the programs that are utilizing way the most CPU resources, which often - but not always - are the ones that indicate cryptojacking attacks.
Regularly updating your PC Operating system and software can help protect against vulnerabilities which enable malware infestations, including cryptojacking attacks. Personally, I utilize Malwarebytes Anti-Malware scans alongside Windows Defender to protect against malware. But virtually any Anti-virus program (Free or Paid) will do the trick.
It is also recommended to secure your internet browser by 1) Disabling Java Script - only reenabling it for trusted sites and 2) Using a strong Adblocker.
For Website and Server System (often referred to as a Server Farm) proprieters, there are a number of ways to protect against cryptojacking attacks, among them:

• Install and properly configure a firewall - for example, disabling default accounts and usernames
• Do NOT allow unauthorized connections to your servers by non-administrative users
• Run specialized Web Application Scanner software to detect mailicious scripts, for example: Quttera.

While the concept of a 100 per cent secure system is impossible, it is possible to ensure that your system is far less vulnerable to cryptojacking attacks by following the afforementioned recommendations to prevent malware infestations, as well as enabling the practices involved in the process of legally obtaining Bitcoin - and other cryptocurrencies - to function relatively smoothly.