Sirwin
Sirwin

Cryptojacking is a more common problem than we think, are you protected?


Cryptojacking is a type of cybercrime in which criminals use victims' devices to mine cryptocurrency. Cryptojacking malwares infect different devices and use them as mining rigs consuming most of the system resources and affecting the overall performance of the devices by secretly using the computing power of the victims.

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Cryptojacking also allows criminals to mine tokens, generate fees, update cryptocurrency blockchains, steal our data, mine cryptocurrency, and create new tokens by performing calculations. This process can be done on any device with a web browser or internet connection, such as desktop computers, laptops, tablets, and even smartphones. Victims unknowingly have their computing power used without consent, thus creating an emerging online threat. Cryptojackers use the resources of these devices to generate money from online transactions with cryptocurrencies such as Bitcoin, Ethereum, Monero, etc., creating new tokens and performing calculations for these transactions.

Cryptojacking: Detection Methods (Simplified)

  • Devices work abnormally, the usual level of processing drops, slow applications and the network.
  • Device overheating (due to CPU power usage) especially on mobile devices.
  • Overconsumption of network resources.

With the "hijacked" equipment, criminals have the possibility to extract their crypto assets from digital wallets and even manage to steal cryptocurrencies from hacked websites or earn cryptocurrencies through mining. The method of contaminating computers is similar to other viruses, Trojans, etc., and ranging from installing malware on a website, sending emails with links that open malicious code, infecting corporate servers, public routers and even home routers. It is also known that dishonest employees of certain sectors have used and use cryptojacking to steal processing power from corporate networks to carry out their tenders, as seen in recent news, many companies have lost part of their cryptocurrencies due to such activities.

Cryptojacking: Prevention Methods (Simplified)

  • Disseminate about the danger that cryptojacking represents for users (What now I do with you)
  • Be on the lookout for malicious websites and links.
  • Use browser extensions that block cryptojacking scripts and restrict unauthorized extensions from gaining access or running processes.

By inserting these malicious codes via compromised websites, infected computers, malicious links and online advertisements which then infects the user's computer, it allows hackers to take full control of the victim's computing power. Currently, there are multiple variants of malware used by cybercriminals, which is why cryptojacking is classified as a cybercrime since it involves the use of people's devices to extract cryptocurrencies and information without their permission or knowledge. This cybercrime makes it possible for scammers to generate cryptocurrency without any cost or effort, the stolen computing power can also be used for other fraud related tasks such as identity theft and online scams. Victims may experience reduced device performance as malware consumes a large part of their device's resources, reducing its speed and performance.

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Cyber security experts have discovered that the spread of these malware is a widespread problem, so they advise customers to regularly scan their systems for any suspicious activity before they can cause too much damage. A best practice is to connect to the network only the essential time and the rest of the work on your device to be done offline because as a result of these infections users are not only subjected to unauthorized use of their machine's resources, but also they may be deprived of any potential profit from their digital currencies. Stay tuned, these threats can steal all your crypto assets without warning.


Tools, Platforms & Applications:

  • Ledger | BixBox02 | Ellipal Titan | Keystone - Some of the best Hardware Wallet or Cold Wallet.  🔐💰 Remember that it is the only place where your crypto assets will be truly safe. 
  • CoinMarketCap - The world's most recognized website for monitoring crypto asset prices with several very interesting sections (Indispensable tool for traders).
  • TradingView - Charting platform and social network (Indispensable tool for traders).
  • StormGain - Cryptocurrency Exchange - Very useful especially for beginners because they can start without investment and without risking their own money. The capital is acquired with the Bitcoin Cloud Miner. Go to the Bitcoin Cloud Miner section, click the green Activate button to get your first mining reward, repeat the operation every 4 hours, withdraw when you reach $10 (in BTC). The capital obtained in mining will be used only to invest in the platform, the profits obtained by the operations if they are withdrawable to the portfolio of your choice.
  • QuantFury - Cryptocurrency Exchange - After registering, you receive free cryptocurrencies or a share of a company (such as American Airlines, Uber, Apple or directly Bitcoin or Ethereum) worth up to $250. Use Invitation code: JRRU2593
  • CoinInn - Cryptocurrency Exchange - Upon registration you receive a bonus between $500-$750, non-withdrawable, only for trading, valid for 6 days, profits are withdrawable to the portfolio of your choice.
  • KuCoin BingX CoinEX MoonXBT BiBox - Cryptocurrency Exchanges (After registering on the platforms you begin to receive different types of bonuses).

Note: The bonuses offered by different platforms tend to vary over time, I recommend doing your own research.


“Everyone has their own forms of expression. I think we all have a lot to say, but finding ways to say it is more than half the battle" - Criss Jami (existentialist philosopher, poet, essayist, musician, singer, designer and lyricist).

"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth" - Marcus Aurelius (Roman Emperor).
"You will ask yourself: And if I take a risk and lose...? I will ask you: AND IF YOU RISK AND WIN? Success begins with thought, because sooner or later the man who wins is the one who believes he can do it. Do not be afraid of mistakes or failure, winners are not afraid of losing, losers are, in most cases the risk comes from not knowing what you are doing, so trust yourself, learn, be patient, manage your emotions and above all, enjoy the journey, what the wise man does at the beginning, the fool does at the end" - Anonymous.

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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.

 

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CryptoEntrepreneurs
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Trader, entrepreneur, freelancer, enthusiast and promoter of globalization, adoption and understanding of cryptocurrencies and new information and communication technologies (ICTs)


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“Everyone has their own forms of expression. I think we all have a lot to say, but finding ways to say it is more than half the battle." Criss Jami (existentialist philosopher, poet, essayist, musician, singer, designer and lyricist). | "Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth". Marcus Aurelius (Roman Emperor).

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