Have you ever felt your computer slow down suddenly? Maybe you are already a victim of cryptomining. Cryptomining is the latest cyber attack on the rise and is carried out by cyber criminals.
According to MIT Technology Review, "Mining is the computational process of a complete cryptocurrency network to verify transaction records, which is called the blockchain, and receive digital coins in return".
In other words, "miners" work to solve complex mathematical problems to generate income in the form of digital currencies, such as Bitcoin, Ethereum, Monero, and others. This mining process requires serious hardware and significant CPU resources to create cryptocurrency.
To be able to better understand what Cryptomining is, here are 5 things you should know:
How is Cryptomining Malware is Executed:
Cryptomining is usually spread in one of two ways. The first approach is with malware, which is sent via a malicious email attachment or link. Researchers found that 23% of organizations globally were affected by cryptomining malware, during January 2018.
The second approach is to infect third party content providers that are used by highly trafficked websites. For example, an advertising provider may be targeted because of its access to thousands of websites reaching millions of people.
This method can provide a more substantial return for the attacker (attacker). When users visit this site, they are unconsciously "donating" their computing processing power to the attacker while they are on the page.
How the Attacker Uses Power from your Device:
By using multiple computing resources, attackers can increase their mining efforts while eliminating the need to buy expensive equipment because they are “pan for digital gold” or in other words, looking for digital gold. The more collective power and speed the attacker can muster, the bigger the crypto payout.
How to Tell If You've Been Hit:
In most cases, you won't find any malware on your device, since this type of attack can attack without it, so the only possible indication is a performance drop on your computer.
Why It's a Big Deal:
What is especially concerning about this type of attack is the computing power of the user that attackers can now hijack by simply visiting an infected site or a site that uses an infected third party.
How to Protech Your Devices:
Unfortunately, there are very few ways you and your end users can monitor abnormal usage of browser processes and higher than normal CPU usage. Instead, the responsibility should rest with them owning and maintaining the website on a regular basis by checking all their third party providers.
