Cryptojacking

What Is Cryptojacking?

Cryptojacking is a type of cyberattack in which attackers use other people’s devices to mine cryptocurrency without their knowledge. Even if you’re not personally buying or investing in cryptocurrencies, you can still become a victim of cryptojacking. That’s because cryptojacking is not about stealing crypto; it’s about stealing resources to mine for crypto.

Here’s what happens: hackers gain access to a device or multiple devices and install cryptojacking software, which then works quietly in the background, mining cryptocurrencies.

Cryptojacking has been receiving a lot of attention in the news lately. The number of cryptojacking incidents has grown exponentially in the past few years—and there is no sign of slowing down anytime soon. With more people investing in crypto than ever, cryptojacking is positioned to become a significant threat to organizations.

Types of Cryptojacking

While companies attempt to balance security and enablement, hackers exploit vulnerabilities to mine cryptocurrencies behind the scenes. There are two main strategies cryptojackers use to target their victims. In both instances, the script runs in the background while the individual continues to work, oblivious to the cryptojacking. And sometimes, attackers will combine these strategies to ensure maximum results.

Injection

Cryptojackers inject a script into a website or a particular ad that runs on multiple websites. Unsuspecting victims browsing the internet may come across these infected web pages, and the malicious script is executed automatically.

Download

Cryptojackers also use social engineering techniques like email and SMS phishing attacks, in which a victim clicks on a malicious link, and the code is downloaded onto the device.

How to Detect Cryptojacking

It’s difficult to detect cryptojacking since the process appears innocent to computer systems. But protecting against cryptojacking is essential for banking services, fintech businesses, and other financial organizations.

Last year, the financial services industry was hit the hardest by cryptojackers, followed by retail and e-commerce. However, the financial industry suffered five times more incidents of cryptojacking than the runners-up.

There are three key things to look out for if you suspect you may be a victim.

1. Decreased Performance

Devices running slower than usual and batteries draining more quickly are signs that someone may be using your systems for cryptojacking, especially if your systems are crashing or providing abysmal performance.

2. Overheating

Cryptojacking is a resource-intensive process. If your device is working so hard that it overheats or your laptop’s fan is running higher than usual, there could be a cryptojacking script running on your device.

3. Increased CPU Usage

Cryptojacking processes often masquerade as something legitimate, so watch out for increased CPU usage even when you are on a web page with very little media content.

The best way to detect sneaky cryptojacking operations is with the help of AI. Look for an innovative endpoint security solution that uses AI to rapidly analyze millions of data sets while it learns to improve its capabilities automatically.

CylanceOPTICS Prevents Cryptojacking Attacks

BlackBerry has integrated the Intel vPro^® threat detection technology driver and machine learning model into CylanceOPTICS^®. This integration lets users quickly detect cryptojacking at the hardware level.

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