What is Cryptojacking? The Hidden Threat to Your Devices

In the evolving world of cybersecurity, one of the most insidious threats today is cryptojacking. Different from traditional scams that target your personal information or financial assets, cryptojacking operates under the shadows. They hijack your device’s computing power to mine cryptocurrency without your consent. This article talks about cryptojacking, its impacts on the real world, and methods to detect and protect against this threat.  

What is Cryptojacking?

Cryptojacking is different from other type of scams that users usually hear about. Instead of stealing assets or financial information, hackers steal the computing power of the device (whether it may be a computer, laptop, or tablet). They use the stolen computer power to mine cryptocurrencies like Bitcoin or Monero. Furthermore,this would be happening in the background and without the knowledge or consent of the owner.

Usually, cryptojacking malware is designed to remain hidden in the computer and siphon computing power. This will slower the device and reduce its lifespan. It would be hard for the device owner to identify which makes it easy for hackers.

As like any other hacks the motive behind cryptojacking is money. The equipment necessary to mine cryptocurrencies costs a lot of money and needs a lot more for the upkeep, but through cryptojacking, hackers can avoid all the costs associated with mining. They can use the stolen computing resources to mine crypto and enjoy the benefits that come with it while the owners of the device suffer the consequences.  

How Does Cryptojacking Work?

Hackers have different methods to enslave the device: malware through phishing emails, infected websites, and trojan horses. In the first method, hackers send a phishing email that looks legit and tricks users into clicking a malicious link or attachment. Once a user clicks that link, the cryptomining malware will be automatically installed on the device, and hackers will start stealing the resources to mine crypto. 

The other method is through an infected website, which is also called drive-by cryptomining. Drive-by cryptomining was initially used legitimately by web publishers who asked permission from users who visited websites to use their computing resources to mine crypto. This method was considered a win-win method where users could get free content while web publishers could use their resources to get another income stream. For instance, if someone is visiting a streaming website, they usually stay on that site for quite some time; a javascript code will automatically execute and start mining crypto, and once they leave the site, the code will shut down. 

Some websites won’t ask for permission. It would start to use the resources whenever the user visits them. This is quite common even on legitimate websites that have been breached by hackers or shady websites. Users might think that after closing the site, the mining would stop, but this isn’t true; they secretly run in the background and would remain unnoticed for a long time. 

Trojans are another way that cryptojacking happens. When a user downloads a software application, thinking that it is useful, it might actually be a malicious program disguised as legitimate software. Once inside your device, the trojan will install crypto mining software and run in the background without the user’s knowledge.   

Hacker would use any of the above-mentioned methods to take advantage of users computing resources. Once malicious mining software gets into the system, it checks whether the system is already infected. If it is infected, the new malware disables the old software and begins the mining process.  

Some Examples of Cryptojacking

• Coinhive was a crypto-mining service that allowed website owners to mine Monero using the computing power of visitors’ devices. However, the company received major criticism because its code was found on thousands of websites that didn’t ask for user consent. Additionally, hackers used the Coinhive script on hacked websites to mine Monero.   
• In 2017, on Showtime’s official website, cryptojacking scripts were discovered. The processing power was stolen from the users who visited the site to stream TV series or movies.
• In 2018, it was found that hackers had infiltrated Tesla’s Amazon Web Services cloud account and installed cryptojacking malware to mine cryptocurrencies. This allowed hackers to secretly mine crypto using Tesla’s cloud infrastructure. 

How to Detect Infection With Cryptojacking?

• Drop in Performance: Devices that have been infected with crypto jacking will run slower, crash, or freeze more often because of the increase in workload while mining cryptocurrencies. 
• Overheating: Cryptojacking scripts make the device work a lot harder than usual, causing it to overheat. This forces the fan to run faster to protect the device and reduce battery heat, reducing its lifespan.  
• Increase in CPU Usage: If the device’s CPU usage is high when the system is idle or not using complex applications, it could be a sign that cryptojacking is working in the background.  
• High Electricity Costs: Device would consume a a lot of processing power to perform the computation required to solve the problems associated with mining. Thereby it increases power consumption elevates the electricity cost.   

How to Protect against Cryptojacking?

• Avoid Suspicious Websites: Avoid pirated streaming sites or software sites, as they lack the security features of a legitimate website. They may also be in cohorts with hackers or have already been infiltrated by hackers.
• Update Software Regularly: Make sure the applications are up to date because outdated software has vulnerabilities that can be easily exploited by hackers. 
• Deploy Ad Blocker: Ensure your ad blocker is working because it can help you block pop-ups and malicious advertisements. Some ad blockers are specifically designed to detect and block cryptojacking scripts.  
• Disable JavaScript: Although this might limit some of the functionalities of the website, disabling javascript would prevent the cryptojacking javascript from loading.
• Install Software From Reliable Sources: Always install applications from authoritative websites, especially antivirus software, which can protect device against cryptojacking threats. 
• Reinforce Cloud Services: While using public cloud services, ensure that all the security features are available or reinforce security configurations because they are vulnerable to cryptojacking.

Conclusion

Cryptojacking is a stealthy and evolving cyber threat that preys on unsuspecting users by hijacking their devices to mine cryptocurrency. Unlike other cyberattacks, the goal isn’t to steal your data but to exploit your computing power, often slows down the operation of devices, higher electricity bills, and even hardware damage. Understanding  how cryptojacking works can help user to stay alert. Avoid suspicious websites, keep your software updated, and use tools like ad blockers and antivirus software to reduce the risk of this threat.