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How Cryptojacking Operates and How to Safeguard Your Business?

icon Posted by: Praveen Joshi
icon July 22, 2022

In Brief

What is Cryptojacking?

Cryptojacking (or malicious cryptocurrency mining) is when threat actors hide in your system and use its resources to secretly mine different forms of online currency. It can infiltrate and infect all devices, including desktops, laptops, smartphones, and even network servers. The malicious crypto miners exploit the host systems’ processing power to access cryptocurrencies and then transfer them into the attacker’s account.

cyber security managed services

67%

of Millennials find cryptocurrency as a safe asset

100%

is the total confidence of people towards cryptocurrency

516%

is the increase in Cryptocurrency theft since 2020

300%

is the increase in crypto mining malware last year

How does Cryptojacking Operate?

Cryptojacking is a malicious scheme to hijack people’s devices such as computers, smartphones, tablets, or even servers. The attackers use these devices and their internal functions for the secret mining of cryptocurrency. These malicious miners often enter your systems through web browser downloads or rogue mobile apps.

Two major ways hackers use for cryptojacking activities are:

  • Tricking the victim into clicking on a malicious link to load the crypto mining code on their systems.
  • Infect a website or page the victim often visits with JavaScript code. The code will auto-execute when the victim goes on the page or website.

In most cases, the cryptojacking victims do not suspect anything. They use their device knowing nothing and usually notice a slight lag in the performance. By the time one finds out the real deal, it’s already late. You can prevent these damages by appointing cyber security managed services for your business.

Let’s dive a bit deeper and see the strategies these attackers use to infiltrate your systems.

Strategies used by Hackers for Cryptojacking

According to the leading experts from major cyber security managed services, the following are the key strategies hackers use for secret crypto mining:

  1. Download: There are ways to persuade victims to download the crypto mining code on their devices. Hackers use social engineering methods like phishing for this. There, they trick the victims with a legitimate-looking e-mail or link. When the target clicks on the malicious link, it activates the code and makes it run in the background.
  2. Injection: Another way is injecting the script into a web page, or ad the victim with frequent visits. Opening the ad or website on the victim’s system or device will trigger the script to load and run. The target system does not store the code in this strategy.
  3. Hybrid: To increase the success rate of the attack, hackers may combine the above two strategies. They might as well infect their machines and target them through web browsers. This leaves no room for the victim to escape.

How to Safeguard your Business from Cryptojacking?

Many organizations nowadays are putting their hands in the crypto business. They are all under the radar of Cryptojacking attacks. Although you can protect your business from malicious crypto mining activities. The following are some ways to do it:

  1. Security Awareness Training: Businesses should provide adequate training to their employees for identifying suspicious emails and links. This will help eliminate a lot of phishing incidents. Also, they must have the orders to report for slow and lagging systems.
  2. Block Unnecessary Ads: Organizations can install ad-blockers on their official browsers. This will prevent irrelevant ads from popping up in front of the employees. Along with it, eliminates the chances of any malicious script injection.
  3. Monitoring the File Integrity: FIM (or file integrity monitoring) helps organizations to detect any unauthorized changes in the files or baseline data. Any changes indicating a Crypto mining attack will give a red flag immediately.
  4. Network Monitoring: Cryptojacking attacks can initiate by infecting the network servers as well. Network monitoring is essential to keep an eye on any malicious activities initiated on the network servers.

Some of the best practices to adopt for protection against Cryptojacking

  • Use techniques like file scanning and deep learning to stop cryptojacking malware at the gateway.
  • Avoid visiting the websites hosting JavaScript miners.
  • Deploy malware detection protocols at every endpoint that might inject the script into your systems.
  • Try to monitor all the applications including all the permissions and accessibility.
  • Take help from cyber security managed services to maintain good cyber hygiene. This will help you keep away from all cybercrimes along with Cryptojacking.

Furthermore, you can add anti-mining web extensions to your web browser. This can detect mining scripts hidden among websites or ads. Eventually, it will reduce the chances of script injection into your system.

Before You Go!

  • Cryptojacking is one of the most underrated attacks that is causing a lot of damage to businesses these days.
  • Even most cybersecurity service providers do not pay much attention to mitigating this attack vector.
  • You need to get in touch with an expert like RSK to deal with such an issue. We have the in-battle experience to counter the Cryptojacking attacks efficiently.

Tags

  • crypto currency malware
  • crypto currency security
  • cryptojacking
  • cyber security managed services

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