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What you need to know about crypto jacking and how it works
The digital world keeps exposing us to new terminologies and concepts each passing day. The coming to be of cryptocurrencies has not done any lesser to make us transfer knowledge about what maybe we already know in other fields into cryptocurrency. Here and now, we single out crypto jacking and try demystifying it.
WARNING: Investing in crypto, or other markets, can be of a high risk for your savings. Do not invest money you cannot afford to lose, because there is a risk for losing all of your money when investing in crypto, stocks, CFDs or other investments options. For example 77% of retail CFD accounts lose money.
Before diving deep into crypto jacking, it’s important to remind yourself about other forms of jacking like car “jacking”. Hopefully this creates some idea about what the term means when used for cryptos.
Crypto jacking refers to the process whereby cyber criminals use people’s devices without authorization to mine cryptocurrency. The devices that may be used in Crypto jacking include a connected home device, computer, mobile phone, and tablet. It is just like the other forms of cybercrime whose motive is making a profit. However, it is also different in that it is designed to stay hidden from the victim.
Also read: Chilling as Hackers stole $320 million in Cryptocurrencies from Wormhole DeFi Project
Cybercriminals engage in crypto-jacking as it is easy to do. Another reason is that it is safer. It does not harm or even destroy a system. Besides, the legal consequences are not as severe as compared to ransomware. Additionally, hackers can access their money easily. Lastly, crypto-jacking malware remains unnoticed for a long period.
Irrespective of the delivery method, crypto-jacking code works in the background quietly. The affected victims may not suspect this as they will continue using their systems normally. The only things they may notice include high computing cloud bills, high power consumption, overheating, and slower performance.
The Way Crypto jacking Works
As an investor, doing coin mining is a long as well as costly endeavour. The top challenges facing coin mining are expensive computer equipment and high electricity bills. If you have more devices, then this means that you will be fast to mine coins. Therefore, due to the resources and time required in coin mining, cybercriminals are attracted to crypto-jacking.
Crypto jacking occurs in different ways. The first way is through web browser mining. Here, the hackers inject crypto mining in an ad or website placed on varied websites. In case the malicious advertisement pops up in the browser of the victim or the victim visits an infected website then the script automatically executes. In this case, there is no code stored in the computer of the victim.
The other way is utilizing malicious emails which may install crypto mining code on a computer. Phishing tactics are utilized in this process. It happens in such a way that the victim gets a harmless email with an attachment or a link. After downloading the attachment or clicking the link, it runs a code, which downloads the crypto mining script on your computer. Funnily, the script will work without your knowledge.
Detecting Crypto jacking
Crypto jacking detection may be challenging. The reason is that the process is usually hidden. Also, the process can be made to just look like a benevolent activity on one’s device. However, there are still three signs you may look out for. They include the Central Processing Unit (CPU) usage, decreased performance, and overheating.
Decreased performance is a sign of crypto-jacking. The reason is that your computer is not functioning normally as it does on other days. Therefore, in case your system runs slowly, you should be on the watch out. Also, you should be suspicious in case your battery is draining quickly as compared to normal days.
Furthermore, overheating is an important indication of crypto jacking. Overheating refers to the process where computing devices overheat. This issue may result in shortening the lifespan of a computer or damaging it. Besides, in case your computer fan or laptop is running faster than normal days, it may be a sign that a crypto jacking website or script is causing the device to heat up. Thus, your fan has to run fast in preventing fire or melting.
In the case of Central Processing Unit (CPU) usage, when you see it has increased when you are on a website with no or a little bit of media content, then it is a sign. It is an indication that crypto jacking scripts are running. Thus, a good crypto jacking test is checking CPU usage using Task Manager or Activity Monitor. However, you have to know that processes may hide themselves or come in the form of something legitimate in hindering you from stopping the abuse. You have to note that when your computer is running at the highest capacity it will run slowly, preventing you from troubleshooting.
Protecting Yourself Against Crypto jacking
Discovering crypto jacking may be difficult. However, there are some preventative measures that you may take in preventing the attacks. The measures will also help you in protecting your computer, crypto assets as well as networking system.
You may also use advert blockers. In most cases, the crypto jacking scripts are delivered through online ads. Therefore, the installation of an ad blocker is good as it helps in stopping them. The reason is that the ad blockers have the capacity of detecting as well as blocking malicious crypto jacking code.
Block the pages which may deliver the crypto jacking scripts is another important way. In preventing crypto jacking, you should be sure of the websites you are visiting. You need to ensure that it is well vetted. Additionally, you can blacklist websites that are highly known for crypto jacking. However, this will still leave your network or device exposed to the new pages.
Using a reliable cybersecurity program such as Norton or Kaspersky may play a role in preventing crypto jacking. They will help in detecting threats everywhere and offer crypto jacking malware protection. Therefore, you must install them before being a victim.
Blocking JavaScript is another way. Disabling JavaScript will prevent crypto jacking code from infecting your computer when you are browsing online. However, the prevention may block you from accessing some functions. Therefore, as much as you may disable JavaScript you should know about the consequences.
You should be alert regarding crypto jacking trends. The world is evolving and cyber criminals are not left behind. They are also constantly modifying the code. Through this, they may come up with new delivery methods in embedding the updated scripts in your computer system. Being up to date with the current trends will help you detect crypto jacking in your network. Also, you may avoid other kinds of cybersecurity threats.
