Cryptojacking and Its Prevention Techniques

In 2022, crypto-jacking attacks surged nearly threefold, resulting in a substantial financial burden in the form of high electricity and cloud service for victims. As the prevalence of these attacks continues to proliferate, it’s imperative for organisations to understand the mechanisms underlying crypto-jacking and implement effective countermeasures.

While legitimate crypto mining, such as bitcoin mining, is considered a lawful endeavour to obtain cryptocurrency like bitcoin, cryptojacking represents a nefarious adaptation of this procedure aimed at exploiting computing resources for illicit gain without incurring the associated costs. Victims of cryptojacking often grapple with the high costs of electricity and cloud services. Consequently, vigilance and proactive defence strategies are essential to mitigating the risks posed by cryptojacking. This discourse aims to elucidate the cryptojacking methodology and provide guidance on detection and prevention strategies pertinent to 2023.

Cryptojacking refers to the illicit exploitation of a computer’s resources for cryptocurrency mining without the owner’s consent. This covert operation is typically executed through the deployment of malware, which covertly harnesses the victim’s computational power to mine digital currencies. The unauthorised mining activity can significantly degrade the victim’s system performance, causing notable drops in processing speed and increased energy consumption. Cryptojacking is considered a form of cybercrime and is illegal in many jurisdictions, highlighting its violation of both legal and ethical norms.

Let’s understand cryptojacking in detail.

How Does Cryptojakcing Work?

Cryptocurrencies exhibit varying degrees of mining difficulty. Some are easier to mine than others, influencing cybercriminals’ preference for particular targets. For example, Monero can be easily mined on any desktop, laptop or server, while Bitcoin mining demands specialised software, making it less accessible for illicit endeavours.

Cryptojacking schemes often combine multifaceted approaches, wherein cryptojacking malware is combined with other malicious software, such as ransomware. When a user clicks on a malicious link or opens an infected attachment, two types of software are downloaded: a cryptojacking program and ransomware. The attacker assesses the target system’s software and hardware configurations and anti-malware defences to determine whether a cryptojacking attack or a ransomware attack would yield a higher return on investment.

In some cases, attackers avoid traditional malware installation altogether. Instead, they implant crypto mining code within websites, WordPress plugins, or online advertisements. This code executes silently within the web browsers of unsuspecting visitors, leveraging their computing power without their knowledge.

Additionally, cloud environments are increasingly being exploited for cryptojacking. Attackers may initially compromise cloud credentials and subsequently deploy crypto-mining scripts within the cloud infrastructure, capitalising on the expansive resources available in such environments. Understanding these diverse tactics is crucial for implementing robust defences against cryptojacking and mitigating its potential impacts.

How to Prevent Cryptojacking?

Train Your Team

Train your IT staff to detect and understand cryptojacking threats. They should be familiar with the initial signs of an attack, such as unusual spikes in CPU usage or unexplained system slowdowns.

Prompt Response

Establish protocols for immediate response and further investigation upon detecting potential cryptojacking activities. This includes analysing system performance, identifying unauthorised processes, and removing malicious code.

Prioritise Cybersecurity Awareness

Educate employees on the importance of cybersecurity practices. They should be aware of the risks and dangers of clicking on suspicious links or downloading files from unverified sources. Also encourage them to report system performance issues, such as overheating or significant slowdowns, which could indicate a cryptojacking infection.

Use Anti-Cryptomining Extensions

Use browser extensions designed to detect and block crypto mining scripts. Extensions such as No Coin, minerBlock, and Anti Miner can help mitigate the risk of cryptojacking by preventing malicious scripts from running in web browsers.

Use Ad-Blockers

Cryptojacking scripts are often attached to web ads. Deploy ad blockers to prevent malicious crypto mining code embedded in online advertisements from executing. Ad blockers can separate out malicious content and mitigate the risk of infection.

Disable JavaScript

When surfing online, consider disabling JavaScript in web browsers to prevent cryptojacking code from executing. Also, remember that disabling JavaScript may affect the functionality of some websites and web applications. Therefore, it is crucial to balance security with usability needs.

Stay Up to Date

Crytpojacking is a growing threat, and staying updated on the latest attacks is crucial to mitigate the risks. Keeping informed about these threats helps you recognise potential risks and implement strategies to protect yourself from becoming a target.

Conclusion

Cryptojacking is a severe threat in the cybersecurity landscape. Although it’s relatively new to the cyber world, the approach to its prevention should be well thought out to avoid potential consequences. The practices and methods outlined above will help you establish a solid defence against cryptojacking. Cryptojacking attacks can lead to both direct and indirect losses for an organisation. Direct losses may include increased energy and operational costs due to unauthorised use of computing power. Indirect losses can encompass reputational damage, reduced system performance, and potential legal ramifications. Ultimately, the burden of these costs falls on the victims, making it imperative to stay vigilant and proactive in safeguarding your systems.

Don’t let cryptojacking and other cyber threats catch you off guard. Stay informed with the latest cybersecurity news, updates, and expert insights from Cyber News Live.