What is cryptojacking?

Cryptojacking is a form of cybercrime in which cybercriminals attempt to gain access to computers and other devices in order to steal cryptocurrency. The ultimate goal of a cyberattack is often to obtain cryptocurrency, or a currency that is converted into cryptocurrency. Cybercriminals hope to embezzle the money this way and get away with their criminal activities.

What is cryptojacking?

Cryptojacking is a form of malware used to exploit the processing power of a computer or other device to mine cryptocurrency. Cybercriminals take advantage of a computer's processing power to mine cryptocurrency, allowing them to profit from the earnings generated by the processing power delivered.

Cryptojacking attacks are difficult to detect because they often take place in the background. Cybercriminals can carry out a cryptojacking attack by installing a piece of malware on a computer or another device. The malware will abuse the processing power of the device. Cybercriminals opt for this form of cybercrime because obtaining the required processing power can be extremely expensive. A single computer is often not enough to generate meaningful earnings from mining cryptocurrency.

How is a cryptojacking attack carried out?

Websites or web advertisements are often used to lure potential victims. Cybercriminals can use a web advertisement to inject malware into the computer or device. Once the computer or device has downloaded the malware, its processing power will be abused by the cybercriminal.

How do I prevent cryptojacking?

It's important to prevent cyberattacks. There are countless ways to do this; here we specifically want to zoom in on preventing a cryptojacking attack. There are a number of ways you can protect your computer or other device against cryptojacking.

1. Install antivirus software

First, it's important to install good antivirus software on your computer. An antivirus program will protect your device against malware, reducing the chance of it becoming infected with cryptojacking malware.

2. Keep software up to date

Keep your software up to date. You don't get those "annoying" notifications for nothing. By keeping all the software and operating systems you use up to date, you prevent known vulnerabilities from remaining exploitable. A software update improves the software and removes existing flaws (vulnerabilities) so that they can no longer be exploited by malicious hackers.

3. Be skeptical

Be skeptical of emails, advertisements, or websites offering deals that seem too good to be true. Don't just download files or other documents. Doing so can result in downloading malicious software that can indeed cause cryptojacking.

4. Improve your cybersecurity!

We live in a digital age. It's important to improve the cybersecurity awareness of yourself, as well as your colleagues. At Tozetta, we've written a cybersecurity handbook with cybersecurity tips for improved cyber resilience.