Explaining Cryptojacking. What It Is, How It Works,and How To Avoit It

by | Sep 24, 2021

Cryptojacking is a form of cybercrime where perpetrators illegally use one’s computer to mine cryptocurrency, a form of a digital asset. This is an online version of stealing one’s money from a supposedly secured bank account.

 

Like the actual crime of stealing, hackers intend to gain money illegally without the victim’s awareness. In cryptojacking, victims are totally unaware of the loss of their digital funds—the methods hackers use to break into the victims’ crypto storage systems are done in many subtle, unsuspicious ways.

 

The threat of cryptojacking has loomed larger these days, especially now that making money through crypto has become very popular. This is why cyber security is an extremely important element in the digital world today.

 

How Cryptojacking Works

 

Nowadays, cybercriminals can gain unauthorised entry or access to victims’ computer systems with less effort and minimal risk. Online felons install software that will enable them to manipulate the computer’s power and resources to mine for or steal cryptocurrency.

 

Cryptojacking can be very hard to detect as the installed software runs in the system smoothly.

Using a few lines of code, cryptojacking begins in one’s computer system, making the computer response time slower, increasing processor usage, and overheating the device. In effect, more electricity is consumed, leading to higher utility bills.

 

In essence, there are two main ways hackers get unauthorised access to one’s computer system. One is by enabling victims to click a malicious link sent in a phishing email. When clicked, the link will load crypto mining code into the computer system. The other means is by injecting a JavaScript code into an online ad or website. This code will work automatically once loaded in the user’s browser.

 

How To Avoid Cryptojacking

 

Cryptojacking is rampant and almost undetectable, but you can still save yourself from falling for it by implementing security measures. Here are some of the things you can do to avoid cryptojacking.

 

  • Be in the know of the developments in cryptojacking – By making yourself aware of how hackers install crypto-hacking software in computer systems, you can control your online activities to keep hackers away. It is important to remember that hackers continuously develop means to get into vulnerable systems, so you should keep yourself abreast of current trends. Read about cybersecurity threats constantly and make it a habit.

 

  • Utilise browser extensions developed to block cryptojacking – Web browsers are the hackers’ gateway to one’s computer system. By deploying scripts in web browsers, hackers can easily find their way into your crypto storage and steal your digital coins. There are specialised browsers today to block cryptojacking codes. They are installed as extensions in your browsers, guarding you against potential threats hiding in some sites you visit.

 

  • Subscribe to a cybersecurity program – Having a system that detects and takes down cyber crimes like cryptojacking is your best weapon, an asset you should always have to keep you protected and safe from a cyber felony.

 

CelebProtect has a team of malware analysts ready to help with all your cybersecurity needs. UR team sources malware lurking online, unpacking and analysing them to identify if it targets our clients. Further analysis is done to determine the command-and-control servers (C&C) and Credential drop sites.

 

Conclusion

 

The tips mentioned above can help you avoid becoming a victim of cryptojacking and protect your business from cyber attacks. Do not wait for you to fall prey to cryptojacking before you take a close look at the state of your computer security.

 

Be proactive in protecting your business and your digital assets. CelebProtect uses expert Human Analysts on our SOC to spearhead the takedown of brand abuse incidents and other cyber attacks. We do much more than simply send a single automated email to an abuse mailbox. Contact us to discuss options for your business today!

 

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