Have you ever heard of Cryptojacking? It’s a growing digital threat that could affect your computer without you even knowing it. Cryptojacking is the unauthorized use of someone’s computer or mobile device to mine cryptocurrencies without their knowledge or consent.
Cryptocurrency has recently become a hot topic in the tech world. With the rise of digital currencies like Bitcoin, hackers have found a new way to exploit unsuspecting users. In this article, we will explore what cryptojacking is, how it works, and the potential risks it poses.
We will also discuss ways to protect yourself from falling victim to this sneaky form of cybercrime. So, if you want to stay informed and safeguard your digital assets, keep reading to learn more about the threat of cryptojacking.
Cryptojacking is a cybercrime where an individual covertly utilizes someone else’s computing power to mine cryptocurrency.
This typically occurs when the victim unknowingly installs a program with malicious scripts, granting the cybercriminal access to their computer or another Internet-connected device.
For example, this can happen by clicking on an unknown link in an email or visiting an infected website. The criminal then utilizes “coin miners” programs to generate cryptocurrencies.
Cryptocurrencies can be created using computer programs and computational power. You will need the necessary hardware, a consistent power supply, and significant computational power to complete this task.
Cryptojacking is a prohibited method of crypto mining. To put it simply, crypto mining is the process of creating a new cryptocurrency, a form of digital currency produced and encrypted using blockchain technology for record-keeping.
Blockchain transactions involve solving intricate mathematical puzzles for transaction authentication and completion. Cryptocurrency miners solve these encrypted puzzles, validate the transactions, and earn cryptocurrency as a reward. This crypto-mining process is the sole method for generating and encrypting new coins on the blockchain.
It aims at exploiting victims’ resources undetected without causing damage. Cryptojackers target numerous victims, utilizing a small portion of their processing resources. The malware operates discreetly in the background, redirecting victims’ processing power for illegal crypto mining.
There are two main types of cryptojacking attacks:
This form of cryptomining works by loading malicious JavaScript code onto webpages, which runs in any browser that accesses the website. The malicious software can be installed through various methods, such as programmatic advertising, malvertising campaigns, and even compromised websites. Most users are unaware that their computer is being used to run these scripts since they are hidden behind pop-ups or under other windows on the screen.
It works by surreptitiously installing cryptomining software onto unsuspecting victims devices and can target any device ranging from Android phones to unprotected cloud storage. Once installed, the malware works in the background without the victim’s knowledge or consent, allowing criminals to make money using their system’s processing power to mine cryptocurrency.
Furthermore, cryptojackers increasingly use Trojan Horse techniques such as manipulating drive-by downloads on malicious websites and taking advantage of open-source code and public APIs to sneak their software onto devices.
Sources of cryptojacking malware include malicious websites, fake apps and games, malicious email attachments, and compromised software supply chains.
Fake apps and games may also contain code that activates when users download them, giving criminals access to their devices. Malicious email attachments have also been used to download malware, often when users open attachments from an unknown sender. Finally, attackers have been known to compromise legitimate software suppliers to insert their malware into the target application or system.
Hackers like to target these devices for cryptojacking attacks:
Browsers: Popular browsers like Chrome and Firefox are the most common targets for cryptojacking attacks. Attackers can inject malicious code into webpages and use JavaScript to run in the browser’s background, mining cryptocurrency without the user’s knowledge.
Smartphones: Mobile devices, particularly Android phones, are also at risk as cryptojackers can take advantage of their processing power to mine cryptocurrency.
Personal computers, laptops, and tablets: Personal computers, laptops, and tablets are all vulnerable to cryptojacking type of attacks. Cloud storage services like Dropbox and Google Drive are also at risk of being targeted by cryptojackers. If an attacker gains access to a user’s cloud storage, they can use the stored files to mine cryptocurrency.
Internet of Things (IoT) devices: IoT devices are also vulnerable to cryptojacking attacks as they are often connected to the internet and have weak security measures in place.
On-premise servers: On-premise servers can also be targeted for cryptojacking attacks. Attackers can use malicious software to gain access and start mining cryptocurrency without the user’s knowledge.
There have been several notable examples of cryptojacking in recent years, including:
Coinhive was a cryptocurrency mining service that was launched in 2017. It allowed website owners to embed JavaScript code on their websites, which would then use the website visitor’s computer to mine the Monero cryptocurrency. This was known as “in-browser mining,” and it was a form of cryptojacking.
Attackers widely used it to deliver cryptojacking malware to victims’ computers without their knowledge or consent. Eventually, Coinhive was shut down in March 2019 due to declining user interest and increasing regulatory scrutiny.
WannaMine v4.0 is an exploit tool that utilizes the EternalBlue exploit to compromise Windows hosts. It is the latest malware version in its family and includes a command and control (C&C) server to issue instructions for malicious activities.
WannaMine can also spread itself across networks through lateral movement techniques, allowing it to propagate rapidly on an organization’s distributed network infrastructure. Moreover, this ransomware variant can deploy malicious payloads on hosted systems by making modifications such as creating or registering new system services and others.
FaceXWorm is a malicious computer virus that uses social engineering strategies to try and lure unsuspecting Facebook Messenger users into clicking on a fake YouTube link. Upon clicking this link, they are prompted to download a Chrome extension to view the content.
Black-T is a newly discovered malware that targets cloud-based Amazon Web Services (AWS) environments. Once Black-T compromises one of these vulnerable AWS servers, it takes advantage of exposed Docker daemon APIs to initiate a cryptojacking operation.
The purpose of this malicious activity is to mine for cryptocurrency without the knowledge or permission of the user.
BadShell is an increasingly popular type of malicious fileless malware that uses native Windows processes to infect a system. Unlike most malware, BadShell does not require the victim to download any files to be infected. Instead, it utilizes tools embedded in Windows and other processes such as PowerShell, Task Scheduler, and the Windows Registry to execute its payload without leaving a physical trace on the disk of its host computer.
When cryptojacking malware is installed on vulnerable computers, it uses the computing power of the machine and its resources to perform cryptocurrency mining tasks, resulting in slower system speeds and increased energy consumption. This leads to machines running at elevated levels, which can cause a shortening of their lifespan and may even cause them to overheat due to the strain imposed by the process.
Moreover, cryptojacking poses other security risks as by having malware on a computer. Victims are more susceptible to further cyber-attacks such as data breaches and identity theft. Cryptojacking can also lead to financial losses when hackers set up malicious websites containing hidden cryptomining code that covertly siphons off funds from unsuspecting visitors.
Additionally, blockchain networks may be affected if too much processing power is being diverted toward mining operations, leading to lags in transaction times or even network outages in severe cases. All these factors make cryptojacking an issue that should be taken seriously and dealt with appropriately.
To protect against cryptojacking, organizations, and individuals must take steps to detect and prevent it. Detection techniques include looking for signs of abnormal system performance, such as high CPU usage or disk activity. Network administrators should also monitor the traffic on their networks and look out for any suspicious communications with known malicious domains.
Prevention techniques are equally important. Organizations should ensure their devices are updated with the latest security patches and antivirus software. Users should use strong passwords and two-factor authentication. Blocklists can be configured to prevent incoming connections from known sources, while firewalls can be set up to monitor outgoing communication.
In the case of a malicious attack, victims should first disconnect all affected devices from the internet and delete any suspicious files or processes identified during the detection phase. Organizations should restore their systems with a clean backup and update them with the latest security patches.
If an organization suspects it has been the victim of a cryptojacking attack, it should contact an experienced cybersecurity firm to help investigate and remediate the issue. Organizations should consider developing a comprehensive security strategy with appropriate tools and best practices to protect against future attacks.
In conclusion, the threat of cryptojacking is a real issue, and organizations and individuals should take steps to protect themselves. It is important to implement appropriate security measures, such as keeping systems updated with the latest patches, using strong passwords and two-factor authentication, setting up firewalls to monitor outbound communication, and using ad blockers or script blockers.
Additionally, users should remain vigilant and monitor their systems for any signs of unusual performance or suspicious activity. Finally, if a cryptojacking attack is detected, organizations should contact an experienced cybersecurity firm to help with the investigation and remediation process.
At ExterNetworks, we understand the importance of staying one step ahead in the ever-evolving landscape of cyber threats. With our proactive monitoring services, you can rest easy knowing that potential threats are being identified and addressed before they can impact your organization. Our team of cybersecurity experts brings years of experience to the table, ensuring that your systems are always protected against the latest threats.
We offer customized solutions to fit your unique cybersecurity needs, ensuring you receive the level of protection your organization requires. Additionally, we help keep your organization compliant with industry regulations and standards, giving you peace of mind knowing that your data is secure.
By choosing ExterNetworks for cyber threat monitoring services, you can save on the costs of hiring an in-house security team while benefiting from top-notch protection. Don’t wait until it’s too late—contact ExterNetworks today to learn more about how our services can benefit your organization.
© Copyright ExterNetworks Inc. | All Rights Reserved.
