Cryptocurrency, cryptomining and, introducing, cryptojacking.
Cryptocurrency is an emerging system of digital money. It hasn’t taken the world by storm but is steadily increasing in use. In the complex system of mining cryptocurrency we have seen the birth of cryptojacking.
Cryptomining could be the new “gold rush” of the digital age. Miners are rushing to cash in on the legitimate means to earn money, and cybercriminals are also developing threats and attacks to hijack the cryptocurrencies.
Cryptojacking is the process by which a miner may use an unwanted application on the victim’s system. That application, known as a Potentially Unwanted Application (PUA), could install other unwanted software. All of this can affect the system’s behavior and performance. Usually this is not an attempt to cause harm but to steal the processing power of the system in order to assist with mining the digital currency.
But is cryptojacking just another form of malware or just a pesky and unwanted application? Since this activity is performed without the consent of the victim it could certainly be considered malware.
The best way to protect yourself is to install a cryptojacking blocker. NoCoin is a widely installed extension used in Chrome and Firefox. Businesses and organizations will need to take additional measures to prevent this activity. These measures include good access controls, patching, monitoring, segmentation and managing connections.
Read more about cryptocurrency and mining from previous blogs.