What is cryptojacking, and how to protect yourself from it?

Even if you do not invest in the cryptocurrency space, it is essential to understand the danger of various types of hacks and ways to protect against them. One of the most malicious attacks related to cryptocurrencies is cryptojacking, which anyone can become a victim of, even if they have never owned a cryptocurrency and have not heard of it.

This article will look at what cryptojacking is and how it works, and how to protect yourself from various types of malware for cryptojacking.

What is cryptojacking?

Let's start with the basics. What is a cryptojacking attack?

This is malicious code or software that a hacker installs on your device. This software is designed to direct your computer to mine digital currencies. However, you do not receive the cryptocurrency that your device has mined. Instead, the hacker sends it to his wallet address. In other words, a hacker uses your electronic device to make a profit on his behalf.

How does Cryptojacking work?

Cryptojacking attacks, unlike ransomware, do not hold your personal information, your systems, or your capital hostage. Instead, cryptojacking malware works quieter and much more subtly. Detecting cryptojacking can be a difficult task since the purpose of such an attack is to go unnoticed by mining currency in the background without warning the victim that her device has been hijacked.

What does a cryptojacking attack do to your device? In most cases, you may notice only a delay when performing tasks on the computer. The performance will be lower, and you may encounter some bugs. For a long time, you may not even suspect that you have become a victim of an attack, attributing this problem to age or other stresses on the functioning of your device.

Cryptojacking is difficult to detect on your device and challenging to track down a hacker. Cryptojacking focuses on mining privacy coins, using localized malware, and sending low-value currency, making tracking a hacker more complex and less worth the effort.

How common is cryptojacking?

Since cases of cryptojacking are not easy to identify, this makes the attack relatively low-risk. It also automatically spreads quickly through standard malware delivery methods such as viruses and phishing links. Despite this, its use is limited for the simple reason that it is usually highly inefficient and does not bring much profit.

Mining is an expensive and large-scale process that requires vast amounts of energy to profit. Even the largest bitcoin farms, consisting of thousands of installations, do not benefit significantly. Therefore, a crypto hacker fixated on an inefficient script, since he uses the central processor of the victim's device for mining, will instead consume electricity than make a profit.

For this type of attack to work and be profitable, a cryptojacker will need simultaneous access to many devices, which is not an easy task. In addition, privacy coins, often targeted by this kind of code, have tweaked their algorithms to become more resistant to this type of threat.

How to Prevent Cryptojacking

Usually, cryptojackers put scripts for cryptocurrency mining into your browser when you visit a particular site and use them for very slow cryptocurrency mining through your device. The primary source of protection against a cryptojacking attack is the measures taken by companies producing browsers and antivirus software to block these scripts and prevent infection of your computer.

However, many examples of cryptojacking with more deeply embedded malware can seriously damage your device. Malware for cryptojacking creates a high level of load on the computer due to prolonged and intensive use of the CPU or GPU, which ultimately can lead to its destruction in the long run.

The best way to protect your device is to regularly conduct an antivirus scan to ensure that you are not being subjected to cryptojacking.

TIPS FOR DETECTING CRYPTOJACKING

As we have already noted, it can be challenging to understand whether your computer is simply outdated or you have become a victim of cryptojacking. If you want to check how secure your computer is, ask yourself these cryptojacking test questions.

Questions to determine if you have been attacked:

Questions indicating whether you are vulnerable to attacks:

Protection against cryptojacking and other types of hacking and fraud

Cryptojacking can happen to anyone, even those who do not own a digital currency, and the best way to avoid danger is a reliable, regularly updated antivirus.

Unfortunately, "hacker" and "cryptocurrency" are too familiar in news headlines. Due to the lack of regulation and anonymity of the cryptocurrency space, everyone who enters this arena should know that, unfortunately, hacking and fraud are not uncommon. The most effective way to protect your capital and at the same time benefit from the lucrative opportunities of the digital currency market is to use a fully licensed and regulated crypto investment platform.

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