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Report Reveals the State of Cryptojacking in 2018

Cryptojacking Still Rife in 2018

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Last year, cybercrime was rampant. Now a new report has revealed that it is still an issue in 2018. It is especially so for the crypto industry, where cryptojacking is thriving. This is where someone uses your CPU without your knowledge to mine for crypto. A recent report by the National Crime Agency in the UK has revealed, “cryptojacking will likely become a regular source of revenue for website owners”.

Cyberattacks Are Costly

A cyberattack on a major corporation is usually quite costly. Not only do they suffer financially but their reputation suffers as well. This has led to many corporations ramping up their defenses. However, the threat has not yet gone away. In fact, the cyber threats have intensified especially with the continued adoption of cloud technology. In the crypto space, the cyber threat has also grown as people continue to be attracted by the high prices of digital coins.

Cryptojacking Menace

The report showed that perpetrators of cryptojacking are of two types. There are both the hackers and site owners who use CPUs to mine crypto. For instance, a US business site recently decided that if a visitor had ad-blocker enabled, they would use their CPU to mine Monero. However, the site would inform visitors of their intention beforehand. The report suggested that cryptojacking would remain a threat as long as crypto continued to rise in value.

The New Threat

Malware used for crpyotjacking has been around for a while now. However, for 2018-2019, the new threat is from site owners. For instance, the report showed that in February alone, there were thousands of sites globally and hundreds in the UK alone using this technique. To achieve this, they were using a corrupted screen reading plugin utilized by blind and partially blind people.

The report also showed that at the height of Bitcoin in December 2017, over half of all businesses globally were affected by crpytominers. Even worse is that this issue is not likely to go away soon. In fact, it is most likely to get worse. Popular sites will continue being a target for miners.

How to Notice Cryptojacking

One way you can tell if your computer slows down suddenly. Besides that, if your fan begins to roar, it might be a sign you are being cryptojacked. To get over these issues, you should use an ad blocker or an antivirus designed to overcome these issues.

Ransoms in Bitcoin

Due to the untraceable nature of crypto, victims of the WannaCry ransomware were forced to pay their ransom in Bitcoin. To show just how serious the issue was, a South Korean company paid 1 million USD as ransom. Besides that, DDoS attacks grew quite a lot in 2017. By September 2017, the incidents had risen by over 90%. However, hackers are being turned off by the volatility of Bitcoin.

What do you think of the growing cryptojacking threat? Leave us your thoughts in the comments section below

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