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
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.