Cryptojacking, also referred to as cryptocurrency jacking, is the unauthorized use of a user’s computing resources to mine cryptocurrency without the user’s consent or knowledge. It typically occurs when a malicious program, such as a virus, is installed on a device, or when a malicious website is visited. The malicious script then uses the user’s computing resource to mine cryptocurrency for the attacker.
Cryptojacking increased in popularity in 2018 as cryptocurrency prices rapidly increased, enabling attackers to generate greater profits from cryptocurrency mining with minimal effort. According to Cisco’s 2018 Annual Cybersecurity Report, cryptojacking was found to be present on 32% of corporate networks, with 10% of these networks falling victim to cryptojacking on a daily basis.
Cryptojacking typically takes place without the user’s knowledge or permission. In more advanced cases, attackers may even force the user’s device to mine cryptocurrency, by using phishing attacks, malicious browser extensions, or websites containing hidden crypto-mining scripts. By mining in secret, these attackers are able to evade detection and avoid being stopped or prosecuted.
For the user, cryptojacking can have serious consequences. Cryptojacking causes severe performance slowdowns and can even permanently damage the user’s device, depending on how powerful the device is. Additionally, cryptojacking can be financially costly for the user, by driving up their electricity bills.
To protect yourself from cryptojacking, it’s important to keep antivirus software up-to-date, and avoid visiting suspicious websites or downloading malicious software. Additionally, users can disable JavaScript for certain websites which may be running cryptojacking scripts. Finally, users can install an ad-blocker or mining-blocker extension to their browser, which can help protect against cryptojacking scripts.
