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Detecting and Overcoming Cryptojacking

Detecting and Overcoming Cryptojacking

Cybercrimes are becoming an increasing threat to organizations. There are even various types of cyberattacks to be aware of now, such as cryptojacking. Cryptojacking is the unauthorized use of someone’s computer to mine cryptocurrency. Instead of buying computers and chaining them together to extend processing power, people steal computing cycles by infecting internet-connected devices. This could affect corporate computers, personal computers, and smartphones, and it’s becoming a bigger threat because many employees have transitioned to working remotely. It is more difficult to protect home computers from cyber attacks.

Cryptojacking has increased by 1,189 per cent from September 2020 to March 2021, making it one of the fastest-growing areas of cybercrime, according to Raj Samani, the chief scientist at antivirus-maker McAfee.

The following are tips will help prevent, detect and overcome cryptojacking:

Preventing Cryptojacking

Hackers have two main methods to get into a victim’s computer to mine cryptocurrency. One way is to trick a user into loading cryptomining code onto their computer through phishing tactics. The other is to insert the script on a website or ad that is delivered through multiple websites. Once the website is visited, the script will start running.

The best ways to avoid these attempts are to keep web-filtering tools up to date, install an ad-blocking extension on web browsers and avoid clicking on links from phishing emails.

Detecting Cryptojacking

It can be challenging to notice that cryptojacking is happening on a device. Still, some signs to watch for are devices running slower than usual, hotter than normal, and increasing electric bills.

Overcoming Cryptojacking

If cryptojacking has been detected on a device, close the browser tab running the script. The organization’s IT department should note the website URL and update its web filters to block it. Additionally, the organization should also update resources, training guides and provide more frequent communications to help identify possible cryptojacking attempts before they happen.

How much does cyber insurance cost? Read more in our cyber insurance information page.

Did you know that 60% of small and medium businesses don’t survive after a cyber attack. Protect your business with Cyber Insurance, call us at 780.424.2727 or click here to get a quote.