Some Things to Know about Cryptojacking

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Cyptojacking – Some Things You Need to KnowBelow is a good article on cryptojacking, which has risen to one of the most popular types of malicious code on computers. What happens is that the cryptojacker downloads software on your computers (usually small businesses are targeted) where the software will run the crypto software to mine bitcoin, etc. using your computing power.  The programs links multiple computers so that the hacker can use this to perform the back end operations – all while using your system to do it.What can be terrible about this is that this isn’t obvious.  It simply slows things down for your whole system, but doesn’t stop the system completely.  Many companies don’t recognize that they were hacked for months or even years.see more at https://kcbusinesslawgroup.com/The Rise and Rise of Cryptojacking: What You Need to Know The Rise and Rise of Cryptojacking: What You Need to KnowCHRISTINA COMBENCryptojackingYou’ve probably heard of cryptojacking by now, otherwise known as illicit cryptocurrency mining. But oftentimes, we think that cybercrime affects large companies or that hackers only target important or affluent people. But here’s the thing about cryptojacking: it doesn’t discriminate on social or economic grounds.According to a study by Switchfast Technologies, small companies are actually a higher target for hackers. In contrast to common misconceptions, as long as they can make money, any company–or individual–is ripe for the taking. The absence of dedicated security personnel makes it easier for hackers to infect devices with malware, phishing, ransomware, or crypto mining botnets.Here’s a scary fact for you: 60 percent of small firms that suffer an attack go out of business within six months. And here’s an even scarier one: one in three small business owners have no safeguard in place to prevent a cyber attack. So for those of you surfing the net without taking proper precautions, it’s about time you did.The Unstoppable Rise of CryptojackingA few things you should know about cryptojacking:In 2018, cryptojacking became the largest cyber threat, knocking Ransomware off the top spot.Already, according to some sources, one-quarter of all companies have been victims of cryptojacking.In Q4 of last year, cryptojacking incidents skyrocketed by 8,500 percent.Those are some pretty eye-watering statistics. In fact, earlier this year, we reported that cryptojacking was becoming an epidemic. But despite a temporary downturn in illicit cryptocurrency mining from March to July of 2018, cryptojacking looks to be gathering momentum fast.According to a report by Kaspersky Lab, Ransomware attacks are on the decline because they aren’t sustainable. Cryptojacking is becoming so popular because it can go on for long periods of time without the victims even knowing.Moreover, cryptojacking can take place on multiple devices, not just on your laptop or desktop. Think servers, mobile phones, and even IoT devices.Currently, mobile mining isn’t profitable enough for an individual to do. But deploying thousands of mining botnets to mine on multiple devices over a long period of time is. According to Kaspersky, countries that are particularly at risk when mobile mining takes off are India and […]

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