CRYPTO JACKING & ITS PREVENTIONS

 

CRYPTO JACKING & ITS PREVENTIONS

We are currently in a framework dominated by new technologies. Its evolution also gives way to emerging threats on the Internet that use resources found on computers or mobile devices. There are attacks that remain hidden from the user. Find out what crypto jacking is and the keys to prevent it.

Crypto currencies have positioned themselves as one of the best current payment methods, since they are based on Block chain technology. But no system is 100% foolproof. Millions of Internet users have already been affected by this threat; however, there are methods to prevent them. 

What Is Crypto Jacking?

Crypto jacking is understood as the unauthorized use of other people's devices, such as a computer or mobile device, by cybercriminals for the purpose of mining cryptocurrencies.

Crypto currencies are electronic money converted into lines of code that have a monetary value. It only exists in the digital world and they don't have a physical form. They were created as an alternative to traditional money. The most successful cryptocurrency is bitcoin, a digital currency that was born in 2009. The success of this currency inspired the creation of other cryptocurrencies.

Unlike physical and traditional currencies, cryptocurrencies are not backed by any government or a specific bank. They are decentralized and managed in multiple databases that use encryption to control the creation of new currencies and verify the transfer of funds.

Crypto currencies come into circulation with mining, a process that consists of computing resources in the form of cryptocurrency coins. These coins have broken into the financial market as they have seen very good financing opportunities in Block chain technology. As time went by, people started looking for new ways to mine these coins and that was when crypto jacking emerged. 

Therefore, as I have mentioned, crypto jacking is a practice whereby cyber attackers use people's computers without their consent to steal computing resources from their victims' devices. The theft of computer resources reduces the speed of other processes, in turn increases electricity bills and also shortens the life of the device. A trick to know if your computer is affected is to pay attention to whether the PC fan runs more times than normal.

The goal of crypto jacking is money, for someone with limited resources and questionable morals, crypto jacking is a very effective way to get cryptomodedas.

 

How Crypto Jacking Works?

There are several possible ways for crypto jacking to enter our devices.

One of the most common ways works like malware. A netizen receives an email and clicks the link that contains that email. At that moment, the cybercriminal can install malware on the computer that manages to take control of the device and can start mining cryptocurrencies without us noticing.

On the other hand, the other most common way is through websites and browsers. There are certain web page that, without notifying the netizen, the hacker uses the internet connection to start mining. The plan consists of putting a piece of JavaScript code on a web page and, from there, cryptocurrency mining is carried out on the devices of the users who visit said web page.

There came a time when web publishers aimed to increase their income through bitcoin, they have no fear of integrating financial technologies such as Block chain and the fintech sector as key elements for a transformation of the economy. Businesses asked their website visitors for permission to mine cryptocurrencies while browsing. It became like an exchange where the Internet user obtained free content while publishers used their computer for mining.

Cryptocurrency mining works the same on mobile devices, although the attacks, in this case, usually take place through a hidden Trojan in a downloaded application.

It is important to note that computer security professionals comment that, unlike other types of malware, crypto jacking scripts do not damage victims' data, neither on computers nor on mobile devices.

Consequences of Crypto Jacking?

Being a victim of a crypto jacking process can lead to several problems. We have to be more aware that it is a serious problem and that it must be stopped.

The most serious consequences would be:

·  We are conducting an illegal mining procedure and furthermore, we have not given authorization to use our electronic devices.

·         We provide benefits to a third party fraudulently.

·         If it is a corporate device, we may be violating the company's security policy.

·     Our devices will slow down and we are affecting their lifespan as CPU and GPU usage will increase.

In the case that it is a computer, as we have commented, electricity consumption will increase and, in turn, our electricity bill.

How to Prevent Crypto Jacking?

Although we cannot prevent crypto jacking 100%, there are several measures and tools to prevent our devices from being hijacked to carry out crypto jacking processes.

We should first install an antivirus and perform regular scans. Also, it is very important that electronic devices are always up to date. When we want to download a program, a movie, among others, we have to choose a safe website that cannot infect us with viruses. We must avoid unknown web pages. And it must be borne in mind that the use of public Wi-Fi networks also facilitates crypto jacking. We should connect to networks that have a password, those will be more secure.