Definition
Cryptojacking is a type of cybercrime where cybercriminals secretly use someone else’s devices (computers, smartphones, tablets, or servers) without permission to mine cryptocurrency. This unauthorized activity consumes the victim’s processing power and electricity, often slowing down devices significantly.
How Does It Work?
Cryptojacking typically works through:
- Malware Infection:
- Browser-Based Cryptojacking:
- Hackers embed JavaScript-based scripts into websites or online ads.
- When users visit the infected webpage, the cryptojacking script automatically starts mining cryptocurrency without requiring software installation.
- Execution:
- The script uses the device’s CPU or GPU power to solve complex mathematical problems and generate cryptocurrency like Bitcoin or Monero.
- The mined cryptocurrency is automatically transferred to the hacker’s wallet.
- Silent Operation:
- Cryptojacking runs in the background without the victim noticing, except for slower device performance or increased electricity usage.
Users of Cryptojacking
- Cybercriminals looking for low-risk, high-reward money-making schemes
- Hacker Groups involved in large-scale cryptojacking operations
- Script Kiddies who use pre-made cryptojacking scripts
Benefits of Cryptojacking (for Hackers)
- Low-risk compared to ransomware
- Difficult to detect without proper security tools
- Generates passive income without user interaction
- Can target multiple devices simultaneously
Key Features
- Often targets web browsers
- Consumes CPU power silently
- Can affect personal devices, servers, or cloud infrastructure
- Uses Monero (XMR) as the preferred cryptocurrency due to its privacy features
- Spreads through malicious ads, plug-ins, or software downloads
Consequences of Cryptojacking
- Slower device performance
- Increased electricity bills
- Shortened hardware lifespan
- Compromised network security
- Loss of business productivity
- Higher cloud service bills for businesses
How to Prevent Cryptojacking
- Use Ad-blockers and anti-malware software
- Regularly update antivirus programs
- Avoid clicking on suspicious emails and links
- Install browser extensions like NoCoin or MinerBlock
- Monitor CPU usage for unusual spikes
Conclusion
Cryptojacking is a stealthy cybercrime that exploits device resources for illicit cryptocurrency mining. While it may seem harmless at first, the long-term impact on device performance, energy consumption, and security can be severe. Organizations and individuals must adopt cybersecurity best practices to detect and prevent cryptojacking attempts.