Apr 07, 2020 By Team YoungWonks *
In a world increasingly dependent on technology, it is perhaps not surprising that today we see many problems unique to and rampant in the tech world. Data security, for instance, is constantly under threat. In the cryptocurrency world then, cryptojacking is one of the key problems. In this blog, we shall take a look at what the term cryptojacking entails, how it is a danger and how we can protect ourselves from it.
Cryptocurrency, cryptography and blockchain
At the outset, let’s look at what the term cryptocurrency means. Cryptocurrency refers to a digital asset that functions as a medium of exchange. It is a form of digital cash that derives its name from the fact that relies heavily on the use of cryptography or cryptology, which is the study of techniques used for secure communication in the presence of third parties.
So the financial transactions with these cryptocurrencies are in fact secured and verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Essentially, a blockchain is a growing list of records, called blocks, that are connected to each other using cryptography. Thus, even the creation of additional units (or blocks) of cryptocurrencies is controlled through the use of cryptography. This process of verifying transactions of cryptocurrency and adding them to the blockchain digital ledger is called cryptocurrency mining, or cryptomining.
Cryptocurrencies use decentralized control instead of centralized digital currency and central banking systems. Released as an open-source software in 2009, Bitcoin is considered the first decentralized cryptocurrency.
If you wish to learn and understand more about the related concepts of cryptography and blockchain, you can read our blogs here: https://www.youngwonks.com/blog/Public-Key-and-Private-Key-Encryption-Explained and https://www.youngwonks.com/blog/What-is-Blockchain-Technology
What is Cryptojacking?
Cryptojacking is a cybercrime where hackers use unauthorized access to a victim's device to secretly mine cryptocurrency. This malicious activity exploits the computing power of desktops, laptops, smartphones, and other devices without the owner’s knowledge, leading to poor performance, overheating, and increased electricity bills. Cryptojacking has become one of the most pressing cybersecurity threats, often blending stealth with significant consequences for victims.
How Does Cryptojacking Work?
At its core, cryptojacking involves injecting cryptomining code or malicious code into a victim’s device. These scripts operate in the background, utilizing the device's processing power to solve mathematical problems necessary for mining cryptocurrency such as Bitcoin or Monero. The mined digital currency is then transferred to the cybercriminal’s wallet, leaving the victim to bear the operational costs, such as high CPU usage and electricity costs.
A victim of cryptojacking often unknowingly becomes a part of a larger cyber attack that exploits their device's processing power for cryptocurrency mining. These attacks involve injecting malicious code into a victim's system, silently hijacking computing resources to perform the mining process. As a result, the victim experiences degraded performance, overheating hardware, and soaring electricity costs. Beyond personal consequences, such attacks also highlight broader cybersecurity vulnerabilities that leave endpoints, operating systems, and networks susceptible to exploitation by cybercriminals.
Cryptojacking primarily occurs in two ways:
- Browser-Based Cryptojacking: JavaScript code is embedded in a compromised webpage or an online ad. When a victim visits the webpage, their web browser begins running cryptomining scripts, consuming significant computing resources. Examples of cryptojacking scripts include Coinhive, which was once a popular tool for browser-based cryptomining before its discontinuation.
- Malware-Based Cryptojacking: In this method, cybercriminals use phishing tactics to trick victims into downloading cryptojacking malware. Once installed, the malware leverages the victim’s computing power to mine cryptocurrency, often causing the system’s lifespan to decline due to overuse.
Key Characteristics of Cryptojacking
- Unauthorized Use: Victims are unaware their devices are being exploited to mine cryptocurrency.
- Computing Resources: The attack hijacks the device’s CPU, processing unit, and sometimes GPU, leading to poor performance.
- Stealthy Operations: Cryptojacking is designed to avoid detection and operate continuously in the background.
Impact of Cryptojacking
Cryptojacking poses several risks to individuals and organizations, including:
- Performance Issues: Victims experience slower system performance on laptops, desktops, and mobile devices.
- Overheating and Reduced Lifespan: Excessive CPU usage can lead to overheating and hardware damage.
- Increased Costs: Higher electricity costs and reduced efficiency in computing resources are common outcomes.
- Cyber Threats: Cryptojacking scripts and malware often exploit vulnerabilities in operating systems, APIs, and browser extensions.
How to Detect Cryptojacking
Detecting cryptojacking can be challenging due to its covert nature. However, these signs can indicate an attack:
- High CPU Usage: Unexpected spikes in CPU or GPU usage when viewing websites or idle.
- Overheating Devices: Devices become excessively hot without performing demanding tasks.
- Poor Battery Life: For mobile devices, rapid battery drain could indicate cryptomining activity.
- Task Manager Anomalies: Open the task manager to check for unusual processes consuming significant computing power.
Common Cryptojacking Vectors
- Webpages and Browser Extensions: Malicious websites and compromised browser extensions can deliver cryptomining code.
- Apps: Malicious apps, particularly on mobile devices, can contain cryptojacking code.
- Supply Chain Attacks: Legitimate software updates can be compromised to include cryptojacking malware.
- Botnets: Cybercriminals use botnets to coordinate large-scale cryptojacking attacks across numerous devices.
How to Protect Against Cryptojacking
Here are steps to safeguard your devices and prevent cryptojacking attacks:
- Use Ad Blockers: Tools like MinerBlock and ad blockers can detect and block cryptomining scripts embedded in webpages.
- Install Antivirus Software: Reliable antivirus programs like Microsoft Defender can detect and remove cryptojacking malware.
- Update Software Regularly: Keeping operating systems, browsers, and apps up to date helps close security vulnerabilities.
- Monitor CPU Usage: Regularly check your CPU’s performance to identify unexpected spikes.
- Disable JavaScript: When visiting unfamiliar websites, disable JavaScript in your browser to prevent cryptojacking scripts from running.
- Secure Browser Extensions: Install extensions only from trusted sources and review permissions carefully.
- Educate Users: Awareness of phishing scams and suspicious emails can help prevent malware-based cryptojacking.
The Mining Process in Cryptojacking
The mining process in cryptojacking involves solving complex mathematical problems to validate and add new blocks to the blockchain. This requires significant computational power, which is why cybercriminals target unsuspecting devices. During this process, the victim's computer, often without their consent, becomes a part of a malicious mining operation, leading to performance degradation and increased electricity costs.
Types of Malware Used in Cryptojacking
Cryptojacking often relies on the following types of malware:
- Browser-Based Malware: Embedded in webpages to hijack computing power via browsers.
- Trojan Malware: Delivered through phishing emails or malicious downloads.
- Ransomware Hybrid: Combines traditional ransomware attacks with cryptomining capabilities.
Real-Life Examples of Cryptojacking
- Coinhive Scripts: Coinhive was widely used by cybercriminals to mine Monero through browser-based attacks. Although discontinued, similar scripts continue to proliferate.
- Phishing Campaigns: Victims are tricked into downloading cryptojacking malware through fake links or emails.
Cryptojacking vs. Ransomware
Both cryptojacking and ransomware are types of cybercrime, but their goals differ. While ransomware encrypts a victim's data and demands a ransom, cryptojacking silently uses the victim's computer to mine cryptocurrency without disrupting its functionality.
Future of Cryptojacking and Cybersecurity
As digital currency and blockchain technology continue to grow, cryptojacking is expected to evolve with more sophisticated techniques. Cybercriminals may target endpoints, operating systems, and even APIs to exploit vulnerabilities. To counter these threats, cybersecurity measures must adapt, incorporating tools to detect and block cryptojacking in real-time.
Conclusion
Cryptojacking has become a major threat in the digital landscape, with cybercriminals increasingly using this method to exploit the computing power of individuals and organizations for unauthorized cryptocurrency mining. Although cryptojacking operates discreetly, often without the victim’s knowledge, its consequences can be significant, leading to reduced system performance, higher electricity bills, and even potential security breaches. As cybercriminals continue to refine their techniques, it is essential for both individuals and organizations to stay alert and understand the risks associated with this hidden menace. Recognizing the signs of cryptojacking, such as sluggish device performance or unexplained spikes in energy consumption, can help detect attacks early and mitigate their impact.
To defend against cryptojacking, proactive measures are necessary. Individuals should maintain updated antivirus software, avoid suspicious websites, and monitor their devices for irregularities. Organizations can protect themselves by implementing network monitoring tools, educating employees on cybersecurity best practices, and investing in advanced security measures like firewalls, ad-blockers, and intrusion detection systems. By adopting these practices, users can significantly reduce the risks posed by cryptojacking, safeguarding their devices, data, and financial resources. As the cyber threat landscape continues to evolve, staying informed and prepared will remain essential in combating this growing risk.
Unveiling the Shield Against Cryptojacking
In the digital age, safeguarding our computer and internet activities from threats like cryptojacking is essential. This malicious activity secretly uses someone's computing resources to mine cryptocurrency. One effective way to protect oneself is through education and developing a sound understanding of cybersecurity practices. At Coding Classes for Kids, we emphasize the importance of cyber safety and provide the tools and knowledge necessary to recognize and prevent such threats. For those interested in a deeper exploration of computer programming and its applications in security, our Python Coding Classes for Kids offer a comprehensive curriculum designed to empower students with the skills needed to safeguard digital environments. Furthermore, our Raspberry Pi, Arduino and Game Development Coding Classes introduce learners to the broad spectrum of computing, equipping them with the expertise to protect and innovate in the technological landscape.
Sources:
https://fortune.com/2017/10/23/bitcoin-monero-cryptocurrency-mining-security-threat/
https://www.wired.com/story/cryptojacking-critical-infrastructure/
https://www.bbc.com/news/world-europe-43003740
*Contributors: Written by Vidya Prabhu; Lead image by: Leonel Cruz
