Cryptojacking is a form of cyber attack that uses someone else’s computer or device to mine cryptocurrency without their knowledge. It is similar to ransomware in that it takes over the target machine and forces it to do something against the owner’s will, but instead of encrypting data, cryptojacking hijacks the processor power on the victim’s computer or device and uses it for mining digital currency without providing any benefit to the victim.
The attacker typically covertly installs a piece of code (called a “miner”) on an unsuspecting user’s system. The miner then runs silently in the background while utilizing resources such as CPU/GPU cycles, electricity and memory from the host device until it has mined enough cryptocurrency for its creator. While this may not seem like much at first glance, when done en masse by hundreds or even thousands of devices simultaneously, cryptojackers can generate significant profits with minimal effort on their part.
Unlike other forms of malware which are designed with malicious intent, cryptojacking does not usually cause direct damage to files stored on an infected system; however there are still risks associated with this type of attack:
– Reduced Performance: Cryptomining consumes processing power which could lead to slower performance or even hardware failure if left unchecked.
– Increased Electricity Bills: As processors consume more energy while working harder than usual due to cryptomining operations, your electricity bills can go up significantly depending how long your computer remains compromised.
– Data Theft: Because attackers have access to all information present in compromised systems they can potentially steal sensitive data such as passwords and bank account details if they choose too.
Fortunately there are ways you can protect yourself against these attacks including installing anti-malware software (if available), only downloading trusted programs from official sources and keeping operating systems updated regularly so that vulnerabilities won’t be exploited by hackers seeking out new victims for their nefarious schemes
