Your PC and cryptojacking: What you need to know

Key Facts – Cryptojacking

• Cyber criminals have found an alternative to traditional data theft and ransom tactics.

• Cryptojacking is on the rise globally, becoming one of the fastest-growing cyber-attacks.

• Criminals use cryptojacking to tap into a company’s or individual’s computing power and mine cryptocurrency.

• Criminals are adopting tactics similar to ransomware and using compromised websites to hijack your employees’ computers for cryptocurrency mining.

• This unauthorized mining operation provides them with new sources of illegal revenue, all at the company’s cost.

• It’s alarming that many individuals and organizations may be victims without even realizing it.

• The signs include decreased device performance, overheating, and unusually high CPU usage, indicating the presence of cryptojacking scripts.
  

Are you a young American crypto enthusiast? Or a business owner looking to protect your employee data and business? You’ve likely heard about the potential financial gains, the allure of crypto mining, and the importance of safeguarding your cryptocurrency wallet. But, have you ever thought about the lurking cyber threat that turns your computer into a stealthy crypto machine without your consent? Say hello to cryptojacking – a subtle yet prevalent cyber threat hiding in plain sight.

During the “Gold Rush” era of cryptocurrencies, everyone aimed to strike it rich through crypto mining. Today, the landscape has evolved. It’s all about cryptojacking, a crafty scheme where cryptojackers use malware to transform your computer into a crypto-mining powerhouse, all while you remain blissfully unaware.

It is like a silent attack. It takes over your computer and uses it to make digital money for hackers. But don’t worry; knowing about it can help you stay safe. 

In this blog, we’ll explain cryptojacking, what it is, how it works, and most importantly, how to protect your computer from this hidden cyber threat. Let’s explore the secrets of spotting it in order to keep your cryptocurrency safe.

What is cryptojacking?

At its core, cryptojacking is a stealthy form of cybercrime. It involves sneaky hackers getting into your computer, smartphone, or even a server to use them for making digital money, called cryptocurrency. While their motive is profit, what sets it apart is how it stays hidden, like a digital ninja.

How does it work?

Picture this: You’re using your computer or mobile device like usual, but in the background, a hidden threat has crept in. This threat is cryptojacking. It takes over your device’s power and uses it to mine cryptocurrency.

let’s dive into how it works step by step:

1. Silent invasion

Cryptojacking begins with a surreptitious entry. Without your knowledge or consent, malicious actors plant malicious code onto your computer, smartphone, or even a server. This code can be delivered through various means, including malicious websites, compromised software, or infected email attachments. The code places the cryptojacking script onto the device, which runs in the background as the victim works.

Cybercriminals employ various tactics to infiltrate devices and implant cryptojacking software. This stealthy software operates discreetly, engaging in cryptocurrency mining or pilfering from cryptocurrency wallets. 

Hackers generally employ two primary methods to surreptitiously enlist a victim’s device for cryptocurrency mining:

1. By enticing the victim to click on a malicious link within an email, triggering the installation of cryptomining code on the victim’s computer.
2. By compromising a website or online advertisement with JavaScript code that automatically executes when loaded in the victim’s web browser, initiating the cryptojacking process.

2. Seizing control

Once the code infiltrates your device, it quietly takes control of your device’s resources. This includes your device’s central processing unit (CPU), graphics processing unit (GPU), and sometimes, even your device’s electrical power.

3. Cryptocurrency mining

With your device’s resources under their control, the cryptojackers set it to work. They use your device’s processing power to solve complex mathematical problems, a process known as cryptocurrency mining. This is how new digital coins, like Bitcoin, are created. Mining requires a significant amount of computational power and energy.

Certain coins like Monero can be mined using almost any computer with a central processing unit (CPU) or a graphics processing unit (GPU).

If you wanted to mine one XMR (Monero) every day, you would typically require a substantial setup, involving at least 12 Graphics Processing Units (GPUs) running around the clock. However, to avoid the significant expense of purchasing and operating multiple computers, hackers have devised a method. They insert code into a web page, enabling other people’s computers to mine for cryptocurrency on their behalf, all without the owners’ knowledge.

4. Earning illicit profits

The cryptojackers earn cryptocurrency rewards for their mining efforts, and these rewards go directly into their digital wallets. In essence, they’re profiting at your expense, and you’re completely unaware that your device is being used for their financial gain.

5. Staying hidden

What makes cryptojacking particularly tricky is its ability to remain hidden. Unlike other cyberattacks that aim to steal data or disrupt your system, it operates quietly in the background, so it often goes unnoticed for extended periods.

Cryptojacking isn’t just a nuisance; it’s a cyber threat. These hidden attacks can cost you money and put your device at risk. So, it’s essential to know what cryptojacking is and how to spot it, just like you’d lock your front door to keep your home safe.

The cryptojacking signs

Most people don’t realize when they’re cryptojacked. For the victim, the signs of this cyber threat are often subtle. The signs usually are:

• The device running slower
• The device heating up more than usual 
• Consuming excessive power
• Receiving unexpectedly high cloud computing bills. 

Cryptojackers and the future of cryptojacking

Cryptojacking is the ingenious solution some individuals have devised to reap the rewards of cryptocurrency mining without shouldering the substantial expenses associated with it. By sidestepping the need to invest in costly mining equipment and avoid hefty electricity bills, cryptojackers manage to mine cryptocurrency without immense financial burdens. 

The crypto coin of choice, particularly when mined on personal computers, is Monero, prized by cybercriminals for its challenging-to-trace nature. The motivation driving a cryptojacking attack is straightforward: profit.

Cryptocurrency mining can be a lucrative endeavor, but it’s a challenging one without the financial means to handle substantial costs. It essentially represents the illicit side of cryptocurrency mining, offering an affordable yet unauthorized route to extract valuable digital coins.

The question of whether cryptojacking is on the decline or experiencing a resurgence has sparked some debate. Typically, the prevalence of cryptojacking tends to fluctuate in tandem with the value of cryptocurrencies, notably Bitcoin and Monero. 

However, two key factors have recently exerted a restraining influence:

1. Law enforcement crackdowns

Efforts by law enforcement agencies to clamp down on cryptojacking activities have placed obstacles in the path of would-be cybercriminals.

2. Coinhive’s demise

Coinhive, a major player in the field of cryptominers, played a significant role in facilitating cryptojacking. It provided website owners with JavaScript code that allowed visitors’ computers to mine Monero. 

Regrettably, this code was often misused, as hackers could secretly inject mining scripts into websites without the owners’ knowledge. Coinhive ceased its operations in March 2019, resulting in a noticeable decline in the number of infected websites.

Have you ever been cryptojacked?

Have you ever fallen victim to cryptojacking? This stealthy practice involves hackers embedding code into web pages, essentially turning other people’s computers into crypto mining machines without their knowledge or consent.

The shifting focus in cybercrime

Cryptojacking has proven so profitable that it’s diverting the attention of hackers from traditional methods like stealing personal information or ransomware attacks. The lure of easy profits has shifted the focus away from ransomware attacks that wreaked havoc in the past.

Read more: List of Ransomware Attacks: Biggest and Most Devastating Attacks of All Time

The rise of cryptojacking

Today, the cryptojacking trend continues to grow, with hackers infiltrating numerous websites, from government institutions to small businesses using the WordPress platform. These unsuspecting victims unknowingly become profit generators for cybercriminals. In summary, the landscape of cyber threats has evolved, with cryptojacking taking center stage as a lucrative, albeit illicit, method of profiting from cryptocurrency mining, diverting the attention of hackers away from more traditional attacks like ransomware and focusing on cloud services.

WatchDog – Cryptojacking Attack

The security research team at Cado Labs has detected a multi-stage cryptojacking attack through a honeypot. This attack is designed to target exposed Docker Engine API endpoints and Redis servers and has the potential to spread in a worm-like manner. The culprits behind this attack are the WatchDog attack group, which has been notably active in late 2021 and 2022, carrying out several cryptojacking campaigns.

Alibaba ECS Instances under the cryptojacking spotlight

In another development, TeamTNT was one of the pioneering hacking groups to shift its focus towards cryptojacking within cloud-oriented services. In late 2021, researchers from TrendMicro reported that groups like TeamTNT and rivals such as the Kinsig gang were executing cryptojacking campaigns. These campaigns involved installing miners within Alibaba Elastic Computing Service (ECS) instances and disabling security features to avoid detection.

The Pirate Bay – A cryptojacking example

One notable case of cryptojacking took place on The Pirate Bay, a popular platform for accessing pirated content. The site discreetly integrated cryptojacking code to leverage the considerable computational power of its users. Many visitors kept their computers on around the clock to share movies and TV shows, unknowingly contributing to the site’s cryptocurrency mining profits.

Showtime’s encounter with cryptojacking

However, The Pirate Bay wasn’t the only platform exploiting its users. Even the well-known Showtime, owned by CBS Corporation, had an incident where a “Coinhive miner” was discovered on its official streaming website. It remains uncertain whether the company knowingly engaged in Monero mining while viewers watched their favorite TV shows.

Cryptojacking hits Canada

Canada hasn’t been immune to this cyber threat, as revealed in an incident reported by CBC. Cryptojacking has become so prevalent that it’s diverting the attention of hackers from traditional methods like stealing personal information or ransomware attacks.

Cryptojacking on the Microsoft store

In the year 2019, the Microsoft Store encountered a concerning issue with eight distinct applications. These apps, seemingly harmless to users, secretly engaged in cryptocurrency mining using the resources of those who downloaded them. What made this situation even more intriguing was that these apps purportedly came from three different developers.

Shielding yourself against cryptojacking

As the threat of cryptojacking continues to grow, it’s essential to take proactive steps to protect your devices and digital assets. Cryptojacking, the unauthorized use of your computer’s resources for cryptocurrency mining, can slow down your device, increase power consumption, and put your security at risk. To defend yourself against this stealthy cyber threat, consider the following strategies:

1. Deploy strong cybersecurity software 

Invest in a robust cybersecurity program that includes features for detecting and preventing cryptojacking. 

2. Stay informed about cryptojacking trends 

Cybercriminals are continually evolving their methods. Staying informed about the latest cryptojacking trends and emerging threats is crucial. Knowledge is your first line of defense.

3. Leverage VPNs for enhanced security 

Enhance your online security by using a reputable Virtual Private Network (VPN). A VPN, such as PureVPN, offers an additional layer of protection against various cyber threats, including cryptojacking.

4. Utilize browser extensions 

To prevent cryptojacking scripts from running in your web browser, consider installing specialized browser extensions. These extensions can detect and block malicious cryptojacking code while you browse.

5. Implement ad blockers 

Since cryptojacking scripts are often delivered through online ads, using an ad blocker can be an effective way to stop them in their tracks.

6. Consider disabling JavaScript 

While browsing the web, you can disable JavaScript to prevent cryptojacking code from infecting your computer. However, keep in mind that this may limit your ability to use certain website features.

By following these steps and adopting a proactive cybersecurity approach, you can significantly reduce the risk of falling victim to cryptojacking and protect your devices and personal information from potential threats.

Bottom line

In conclusion, cryptojacking is a subtle yet formidable cyber threat that could be operating right under your nose. This covert intrusion allows cybercriminals to harness your device’s computing power for cryptocurrency mining, all without your knowledge or consent. As the awareness of this cyber threat continues to grow, it’s crucial to grasp how it operates and take proactive steps to protect your devices from becoming unwitting participants in cryptojacking schemes.

By staying informed about the latest cryptojacking trends, utilizing robust cybersecurity software, deploying browser extensions, and being cautious about the websites you visit, you can fortify your digital defenses against this sneaky threat.

Remember, awareness is your armor in the battle against cryptojacking. Stay vigilant and prioritize your online security to ensure that your devices remain safe from this illicit intrusion.

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