Cyber Security

With the surge in cryptocurrency market prices, the crypto market is expected to rise each year despite frequent fluctuation. Unfortunately, we need to pay the price for this: the rising possibility of cryptojacking attacks.

Unlike other traditional cyberattacks that steal your data, cryptojacking hijacks resources from a user’s device to mine cryptocurrency and gain profits.

You could be their next victim—or not, as long as you are aware of the signs and prevention measures. Want to know more? Read our explanation about how this attack works and the proper detection and prevention steps!

What is Cryptojacking?

Cryptojacking is a cyberattack in which hackers exploit a computer or mobile device to mine cryptocurrency. This process involves embedding malicious code into websites or apps that secretly use your device’s processing power.

The primary goal is to generate cryptocurrency profits without the user’s consent or awareness.

A report recorded an unprecedented 1.06 billion cryptojacking hits in 2023, a 659% increase over the previous year. This huge number makes cryptojacking one of the most popular threat trends in 2023, following malware and ransomware.

How Cryptojacking Works

When a user visits a malicious code-infected site or downloads a compromised app, the code runs in the background, using their CPU or GPU for mining activities without their consent.

Here’s a quick look at how it may happen:

1. Hackers embed cryptojacking scripts in websites or ads, which execute automatically when users visit these sites.
2. Some apps appear legitimate but contain hidden mining code that activates once installed on your device.
3. Hackers send emails or texts with malicious links or attachments that, when clicked, install cryptojacking malware on your device.

A real-life example would be the Coinhive Incident in 2017. Originally created for website monetization, Coinhive’s JavaScript-based cryptocurrency miner was hijacked by cybercriminals.

They injected the Coinhive script into unsuspecting websites, causing millions of users to participate in cryptocurrency mining during their visits unknowingly.

Signs You Could Be a Victim of Cryptojacking

While cryptojacking can be hard to detect because it runs silently in the background, there are some signs that might indicate your device has been infected:

• Unusually slow computer or mobile devices
• Constantly running or hotter-than-usual device’s fan
• High CPU usage status on Task Manager or Activity Monitor
• Quick-drained battery
• Unexpectedly high electricity bills

When one of these signs (or all of them) happens, take steps to investigate and mitigate the impact of cryptojacking on your device.

How to Detect Cryptojacking

Here are some steps to help you identify if your device is affected:

• Check CPU usage
• Monitor device temperature
• Review installed browser extensions
• Remove any extension that looks suspicious or unfamiliar
• Run a scan with reputable anti-malware software to detect and remove cryptojacking scripts
• Update software regularly

These steps will help you effectively detect and address cryptojacking on your devices.

Prevention Tips

Preventing cryptojacking involves taking proactive steps to secure your devices and online activities. Here are some effective tips:

1. Install Security Software: Use reputable antivirus and anti-malware programs to detect and block cryptojacking scripts.
2. Keep Software Updated: Update your operating system (OS), browsers, and apps to fix security vulnerabilities.
3. Use Browser Extensions: Install browser extensions like NoCoin or MinerBlock to block cryptojacking scripts on websites.
4. Avoid Sketchy Links: Be cautious when clicking on links or downloading attachments from unknown sources.
5. Monitor Device Performance: Regularly check your device’s CPU usage and temperature for unusual activity.
6. Use Ad Blockers: Install ad blockers to prevent malicious ads from running cryptojacking scripts on your device.
7. Limit App Permissions: Restrict the permissions of installed apps, especially those requesting excessive access to your device’s resources.

Following these practical tips will help reduce the risk of falling victim to cryptojacking.

Frequently Asked Questions

Conclusion

Cryptojacking is not like other traditional cyber threats. It silently exploits your device’s resources to mine cryptocurrency without your consent. Fortunately, you can avoid becoming a victim with proper awareness and preventive measures.

Remember: this attack can target both individuals and companies. Hence, strong security protection is much needed.

If you want to strengthen your cybersecurity and protect your systems from cryptojacking, contact Fluxgate and let our experts ensure your devices remain secure.