Cryptojacking: What is it and how to protect yourself from such attacks?

Most cyber-attacks involve the theft of a crypto wallet’s private keys. With access to these keys, scammers can drain your crypto wallet in no time. While this might be the most common form of cyber fraud, there’s another crypto theft in town that has been around since 2017, known as cryptojacking.

Taking unauthorized control of somebody else’s computer to mine cryptocurrency is called cryptojacking. Hackers enter foreign systems by coaxing users to click on malicious links disguised in seemingly genuine e-mails. Once the link has been clicked on, it automatically runs the crypto mining code on your system through your web browser. Crypto mining then continues in the background without the user finding out until other applications on the system begin to get affected.

Also Read: Hackers steal $320 mn in crypto: Here are the 10 biggest digital currency thefts of all time

Cryptojacking saves hackers the cost of setting up their own mining equipment, so they leech off others’ resources. Moreover, crypto mining involves complex mathematical calculations, thus consuming immense electrical power. When you add it all up, you realize how much you really lose by being a victim of this cyber-crime.

Hackers usually deploy two modus operandi to enter targeted systems discreetly. The first one is by tricking users into loading slyly embedded mining codes on their respective systems through phishing — the activity of using legitimate-looking e-mails to veil malicious codes and links.

The second method used by hackers is called a ‘drive-by.’ Victims are tempted to visit infected websites on their browsers. Upon doing so, an infected ad pops up on the screen. As soon as this happens, a script automatically executes itself and loads the crypto mining code on the victim’s computer. In this case, the code is not stored in e-mails or on the target system. Security firm Malwarebytes writes that pop-ups are designed to fit behind taskbars and clocks such that they remain invisible to the human eye.

Also Read: Hackers opt for covert methods for cryptocurrency mining, says report

Since the motive behind cryptojacking is solely money, hackers often deploy both methods to maximize their chances of stealthily entering target systems. “Attacks use old malware tricks to deliver more reliable and persistent software

Some crypto mining codes are designed to trigger worming — a method by which the infection is spread to other devices on the same network, including the server itself. They are also much harder to get rid of and usually remain undetectable. Not to mention, hackers gain access to a huge amount of computing resources through just one infection.

Cryptojacking software is designed to remain hidden on your devices as they consume your resources to mine cryptocurrency on the hacker’s behalf. However, there is a silver lining — most crypto mining scripts planted on your machines do not corrupt or steal personal data. They are just there as parasites, consuming your computing resources.

Cryptojacking attacks can target desktops, laptops, tablets, and mobile phones across all operating systems. Depending on how subtly your system has been attacked, you may be able to spot some indications of a cyberattack.

Excessive usage of your central processing unit (CPU)  / graphics processing unit (GPU)

Slowing down of your device, which becomes more apparent as you use more applications in parallel

Also Read: New York couple arrested in $4.5-billion Bitfinex crypto heist; all you need to know

Repeated usage of cooling fans on your desktop or laptop (increased noise) as the processor keeps overheating

Battery life reduces by a large margin

A sharp increase in your electricity bills could also hint towards cryptojacking

The best way to steer clear of this threat is to run a powerful and authentic antivirus on your devices. One must periodically scan for threats in order to avoid over utilization of your resources. Coindesk recommends the following antivirus programs for the best protection:

Avast

Avira Antivirus

Malwarebytes

Bitdefender

ESET

The Interpol website says that Monero (XMR) is the most sought-after cryptocurrency for cryptojacking activities. This is because Monero allows miners to remain anonymous through its protocols. Thus, tracing XMR transactions is also a very tedious task.

Previously, Bitcoin (BTC) used to be the cryptojackers’ favourite. But the increased competition in mining activities coupled with the astonishing amount of power it consumes has made BTC one of the lesser chased cryptocurrencies.