In the last few years, cryptocurrency has experienced a meteoric rise but so, too, have crypto-mining attacks.
Crypto-currency mining attacks, aka crypto-mining attacks or crypto-jacking, are a type of cyberattack in which criminals use the victim’s computer to mine cryptocurrency. In essence, the hackers hijack the computers and use them to make money.
A recent report by Cisco showed that 69% of organizations experienced some level of unsolicited crypto-mining. Of all cyberattacks, crypto-mining has generated the most internet traffic. It often serves as a gateway to other types of cybercrime which means stopping it is critical to every business’ cybersecurity.
How Crypto-mining Works
A malicious party gets into your environment, either through phishing tactics or through hidden code on a website or ad. Once the malicious party gains access through one of these methods, they set up a miner program on one or several of your computers.
The miner program starts running complex mathematical problems on these computers to mine for cryptocurrency. The results get sent back to the hacker and this allows them to make passive income off of the mined cryptocurrency.
The hackers often do this while making lateral moves to steal data or install other types of malware. In other words, crypto mining attacks can pose an additional threat beyond just the unauthorized use of your organization’s computers for cryptocurrency mining.
Examples of Crypto-mining Attacks
There are several different types of malware that hackers can use.
One such attack is called Powerghost. Powerghost uses an exploit to spread itself in a way to avoid detection. You could have suffered a crypto-mining attack from Powerghost and not even know it.
Another type of attack is Graboid: a worm that uses Docker Engine containers to spread.
Finally, there’s Badshell. It’s a crypto mining attack malware that hides itself in legitimate Windows processes.
These are just some examples. Be aware that other crypto-mining attacks are out there as well.
Protecting Against Crypto-Mining Attacks
Someone else using your business’ computers to mine cryptocurrency may not sound like a considerable cybersecurity threat but it is. Crypto-mining attacks can have serious effects on your business, including raised costs.
Crypto mining requires a significant amount of energy so businesses who have been attacked may incur much higher electricity costs until they eliminate the crypto-mining malware. Further, IT and help desk professionals must spend valuable time finding the source of performance issues caused by crypto-mining attacks and solving those problems.
To put it simply, protecting against crypto-mining attacks is an essential part of any cybersecurity strategy.
Malware can run on a variety of devices, such as computers, servers, smartphones, Internet-of-Things (IoT) devices, etc. To protect against Crypto-mining malware you need powerful anti-malware software that monitors your network for unusually long connections.
Unfortunately, some malware uses machine learning to be able to recognize, report, and prevent unusual network activity so further action may be required.
Protect Your Business
The best way to protect your business from cyber attacks is to consult an expert. At 911 PC Help, we help business owners with all their IT service needs, including cybersecurity. To learn more or get started with Microsoft 365, contact us by phone at 415-800-1130.