Cryptojacking is a cyber threat in which attackers use a victim’s computer stealthily to mine for cryptocurrency. Cryptojacking can compromise desktops, laptops, smartphones, network servers etc. Unlike most other threats, cryptojacking does not breach victims’ data, but can cause affected systems to slow down significantly owing to high resource utilization.
Cryptojacking may be perpetrated using different techniques. An attacker may send a phishing email containing a malicious link. If the recipient of the email clicks on that link, crypto-mining code will be loaded onto the recipient’s device. In drive-by cryptojacking, attackers embed malicious scripts onto a website. When a user visits the site, the script may automatically run on the user’s device to actively “mine” for cryptocurrency. Besides, attackers may also hide cryptojacking malware on popular web-based code sharing platforms.
Incidents of cryptojacking are on the rise. It was reported by NTT DATA Corporation that cryptojacking malware accounted for 41% of all detected malware in 2020. In 2022, the number of cryptojacking incidents was around 140 million, an increase of 43% as compared to 2021. SonicWall reported that cryptojacking cases rose by 659% in 2023.
Impact
Computing systems and networks may slow down considerably, and they may suffer from overheating. As a result, organizations may suffer from downtime and loss of productivity.
Organizations may suffer financially owing to increased electricity cost.
Recovery from cryptojacking attacks may entail significant financial cost.
Cryptojacking attacks may slow down service delivery. This may damage an organization’s brand image, leading to loss of customer base.
Controls
Organizations should implement a comprehensive security policy.
The latest security patches and updated anti-malware should be installed in all systems.
Software should be procured / downloaded only from trusted sources.
Organizations should use ad blockers and browser extensions that are designed to block cryptojacking.
If possible, JavaScript should be disabled when browsing online. This can prevent cryptojacking code from infecting computing systems.
Periodic security assessments and audits should be conducted to detect and remove vulnerabilities in systems.
Users should be provided with continuous training about the risks associated with cryptojacking and how to recognize suspicious websites and potential threats.
How Sujosu Can Help
Sujosu Technology can help you identify areas of concern and assess your application and infrastructure security risk. Our consultants can suggest appropriate countermeasures and provide awareness / training to prevent, detect, identify, and recover from security attacks. Engage with us and remain cyber-secure.
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