Cybercriminals are always innovating new ways to breach systems and exploit businesses and individuals. One of the most rapidly growing—and often overlooked—cyber threats is a tactic known as cryptojacking.
Unlike conventional cyberattacks that steal data or lock users out of systems, cryptojacking covertly hijacks your computer or network’s processing power to mine cryptocurrency. This behind-the-scenes attack can significantly slow down your systems, increase your electricity bills, and put your organization at risk—all without your knowledge.
What Is Cryptojacking?
Cryptojacking, also called malicious cryptomining, is the unauthorized use of someone else’s computing resources—be it a personal device, company server, or entire network—to mine cryptocurrency. Hackers typically install hidden scripts that operate in the background, often delivered through compromised websites, emails, or software updates. These scripts secretly initiate crypto mining operations, using up valuable computing and energy resources.
For attackers, cryptojacking offers a low-risk, high-reward opportunity to profit. They avoid the cost of buying expensive mining hardware and paying for electricity—at the expense of their victims. For businesses, this translates to reduced system performance, expensive cloud computing bills, and even potential hardware damage from machines running continuously at high capacity.
How Cryptojacking Works
Cybercriminals use two main approaches to cryptojack a system:
1. Malware-Based Cryptojacking – Hackers lure users into downloading infected software or email attachments. Once installed, the malware operates discreetly, utilizing the host machine’s CPU to mine cryptocurrency without any visible signs to the user.
2. Browser-Based Cryptojacking – Also known as “drive-by” mining, this method injects malicious JavaScript code into compromised websites, online ads, or browser extensions. When users visit these pages, the code activates in the browser, using system resources for mining until the session is closed.
Warning Signs of Cryptojacking
Cryptojacking is specifically designed to stay under the radar, but there are several clues that may indicate your system is compromised:
– Slow System Performance: Unexpected sluggishness or frequent crashes could mean your CPU is working overtime.
– Constant Overheating: Cryptomining stresses your hardware, causing fans to run excessively or devices to feel hot, even during light usage.
– Higher Utility Bills: As cryptomining increases energy consumption, a sudden or unexplained rise in electric costs may be a warning sign.
– Suspicious Alerts: Antivirus programs or endpoint protection systems may flag unusual activities or scripts—these could be related to cryptojacking.
– Reduced Battery Life: On mobile devices and laptops, users may notice batteries draining faster than usual.
– High CPU Usage: Checking the task manager or system activity monitor might reveal unusually high CPU usage, even if performance appears normal.
Preventing Cryptojacking
Protecting your business from cryptojacking demands a diligent and layered cybersecurity strategy. Here are key actions your organization can take:
– Keep Software Up to Date: Installing regular security patches and updates closes vulnerabilities often exploited by attackers.
– Use Advanced Endpoint Protection: Implement tools that can detect and block cryptomining software or other forms of malicious code.
– Monitor CPU and Network Activity: Establish performance baselines and create alerts for unusual behavior like sudden spikes in CPU use or network traffic.
– Block Malicious Scripts: Ad blockers and script-blocking browser extensions can help stop cryptojacking scripts from loading.
– Employee Training: Regularly train staff to recognize phishing attacks, suspicious links, and unsafe browsing practices.
– Limit JavaScript Use: Disable JavaScript on untrusted websites to prevent drive-by mining attempts.
The Evolving Landscape of Cryptojacking
The popularity of cryptocurrency has made cryptojacking more appealing than ever to cybercriminals. According to recent data, cryptojacking incidents increased by 659% in 2023 alone.
Expect the following trends to shape the future of cryptojacking:
– Cloud Infrastructure Targeting: The scale and power of cloud computing make it an attractive target for large-scale cryptomining operations.
– Sophisticated Evasion Tactics: Attackers are refining their methods, making detection harder. Cryptojacking can also serve as a diversion tactic, distracting security teams from more malicious activities like ransomware or data exfiltration.
– IoT Device Exploitation: As the number of Internet of Things (IoT) devices grows, so do opportunities for attackers. These devices often lack robust security protections and monitoring, making them easy targets.
Protect Your Business with Cytranet
Cryptojacking may operate silently, but its impact can be anything but minor. The best defense is a proactive cybersecurity posture designed to identify and eliminate threats before they take hold.
Cytranet delivers tailored IT security solutions that help businesses stay protected against emerging threats like cryptojacking. Our team of security experts and Fractional CIOs work with your organization to evaluate risk, align practices with industry standards, and strengthen your overall cybersecurity framework.
Schedule a consultation today to learn how Cytranet can keep your company secure and resilient in the face of evolving cyber threats.
