Understanding Cryptojacking
Cryptojacking refers to the unauthorized use of a person’s device or system, such as a computer, server, smartphone, or tablet, for cryptocurrency mining without their knowledge or consent.
It is a practice employed by unscrupulous individuals who hijack the computational resources of others to mine cryptocurrencies for their financial gain.
Methods of Cryptojacking
Several methods are used for cryptojacking, but two popular ones are trojan-based cryptojacking and drive-by cryptojacking.
Trojan-based cryptojacking involves installing a malicious program, often through deceptive email links or attachments, without the user’s awareness.
Once installed, the program runs in the background, utilizing the host computer’s resources to mine cryptocurrencies, with the profits going to the hacker.
Exploiting Compromised Websites for Unauthorized Mining
Drive-by cryptojacking, on the other hand, occurs through malicious JavaScript code embedded in compromised websites or web pages controlled by hackers.
When users visit these websites, the code is executed without their knowledge, initiating cryptocurrency mining using the user’s device.
Consequences of Cryptojacking
Cryptojacking has several negative consequences for the victims.
It increases energy consumption, causing higher electricity bills for the affected users.
It also slows down the performance of their devices, often resulting in overheating and increased use of cooling fans.
Over time, cryptojacking can cause wear and tear on the devices, potentially leading to their breakdown or shortened lifespan.
There are two common types of cryptojacking
- File-based cryptojacking hackers send seemingly legitimate emails to victims. When the recipients open the e-mail attachments, a program introduces the crypto-mining script onto their computers.
- Browser-based cryptojacking involves hackers embedding malicious code in various websites. When users access these infected websites, the crypto mining script takes effect, utilizing the computational resources of their devices.
Cryptojacking schemes can often go undetected for extended periods, allowing hackers to mine cryptocurrencies without the victims’ knowledge.
Mining activities incur significant electricity costs, which are shifted onto the victims, allowing hackers to earn token rewards without bearing the financial burden.
Cryptojacking Worms
Some cryptojacking scripts possess worming capabilities, enabling them to rapidly spread and infect multiple devices and servers within a network.
Cybercriminals typically prefer to mine privacy-focused cryptocurrencies like Monero, as they are difficult to trace.