4.3 Crypto Mining Malware (Cryptojacking)

Crypto Mining Malware (Cryptojacking)

Cryptojacking is a type of cyber attack in which malware is used to hijack a victim's device (such as a computer, smartphone, or even IoT devices) to secretly mine cryptocurrency, usually without the victim’s knowledge.

• Process: The malware installs mining software on the target device, utilizing its computational power to mine cryptocurrencies (often Monero or other mineable altcoins). The attacker earns the rewards while the victim bears the costs of energy consumption and device wear.

• Impact:

  • Performance degradation: Cryptojacking can severely slow down the performance of the infected device due to the high resource demands of mining.

  • Increased energy costs: Victims may experience higher electricity bills because the device is constantly running mining processes.

  • Device wear and tear: Over time, the continuous strain on hardware can lead to overheating and reduced device lifespan.

• Prevention: Using anti-malware tools, firewalls, and ad-blockers can help prevent infections. Regularly updating software and using secure browsing practices can also reduce the risk of being targeted.