Cryptojacking involves the unauthorized use of people’s devices by cybercriminals to mine for cryptocurrency. It is a growing trend of cybercrime that has seen 400% growth in the first half of 2023. It is a unique type of cybercrime that is designed to stay completely hidden from the victim, although the motive is still money.

But how does it really work? Cybercriminals hack into several types of devices to install cryptojacking software that works in the background, mining for cryptocurrencies or stealing from cryptocurrency wallets. Meanwhile, the victims continue to use their devices unknowingly.

Cryptojacking, Cryptomining, cybercriminals, Cybersecurity, security solutions, Security Solutions StackHere are two primary entry points:

  • Phishing attack where a victim is baited to click on a malicious link. That link will then load cryptomining code on the computer.
  • Loading a JavaScript code that auto-executes when a victim clicks on an infected website or online ad.

It is not always obvious when a victim is infected, there are some symptoms that rear their heads at times. This includes slower response on devices, higher electricity bills, and excessive fan use brought on by overheated batteries. There is also the cost associated with any help desk or IT support hours used to solve the performance issues caused by the cryptojacking. Cryptojacking scripts do not damage computers or data. However, they do steal computer processing resources.

Unlike a typical ransomware or malware infection, the goal of cryptojacking is to go as long as possible without detection.

Just like with any type of malware and ransomware, the best way to protect against cryptojacking is to ensure you have updated and effective cybersecurity programs running and that you take time to ensure your staff is staying on top of the latest cybersecurity trends. For this cybercrime, it is also an effective type of defense to use browser extensions designed to block cryptojacking, use ad blockers, disable JavaScript, as well as block pages known to deliver cryptojacking scripts.

If you need help ensure your security solutions stack is up-to-date and offering you the best possible protection against cybersecurity, give 2W Tech a call today. Let our team of expert IT Consultants help your team stand up against cybercrime!

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