Ransomware, the flagship of malware, has for years spread terror and fear among businesses and users of the threat of data loss. Now, in 2020, Ransomware faces serious competition at the top of the cybercrime food chain .... cryptocurrency mining malware. According to Comodo Cybersecurity Threat Research Labs, crypto-based attacks have become the number one security threat for 2020 to date.
What is Cryptocurrency Mining Malware?
Cryptomining, cryptocurrency encryption malware, or Cyptojacking, terms so new that they have not yet been added to online spellcheckers, are forms of malware that hijack a computer's resources and use them to mine cryptocurrency, like Bitcoin, without the user's permission. . Since mining cryptocurrency is a fairly large task on a PC or server, cryptocurrency mining malware has caught the attention of hackers and data, thieves, by harnessing the processing power of several devices at the same time. Essentially, its malware that creates an army of blindly crypto mining machines is auctioned off from their cybercriminal overlord.
In the first three months of 2020, Comodo said it detected 28.9 million crypto miner incidents out of a total of 300 million malware incidents.
Although Bitcoin is the most popular and well-known form of cryptocurrency, hackers target other types of online currency, such as Monero and Dogecoin. In fact, there are currently over 1,600 forms of cryptocurrencies, with more likely to come in the next few years, meaning this form of malware and illegal activity may be here to stay.
When it comes to devising type, virtually everything is at risk, including servers, computers, mobile devices, and devices connected to the Internet of Things (IoT). Also, as the competition between hackers is expected to accelerate, they will start to focus on high-end devices with more computing power to maximize their investment time.
Why is Cryptocurrency Mining Malware Beating Ransomware?
Cryptocurrency mining malware is gaining ground over ransomware as a means of blocking Bitcoin as it can go undetected for months or even years on a user's system, while ransomware immediately reveals its presence. to the user. Additionally, ransomware attacks are generally considered to be risky, as users can choose to sacrifice their data or restore a recent backup instead of forcing electronic cash. Cryptocurrency mining malware, however, when scattered across thousands of different devices, can generate millions in cryptocurrency.
Additionally, since ransomware has dominated the news over the past few years, many companies have stepped up their ransomware security practices, making it harder for cybercriminals to earn digital coins with common ransomware attacks. This has prompted hackers to seek out new, more profitable methods of deploying their skills.
How Do I Know if I Have Been Infected With Cryptocurrency Mining Malware?
Since this is a somewhat emerging threat, it might be a good idea to take a look if you've been a victim of this type of malware before. Here are some ways to check:
- Monitor devices for high CPU usage
- Install a network monitoring solution
- Remind employees to notify IT if their devices are running slower than usual
Why should I care?
This threat represents another potential exploit in your systems and it also encourages attackers to re-prioritize to achieve stealth and persistence for extended periods of time. Although at first, it is not as damaging and time-consuming as ransomware, cryptocurrency mining malware can cause your computer resources to increase significantly and in some cases render them unusable and even increase your costs. electricity costs. Good security hygiene can help minimize the risk of your organization falling victim to these types of attacks, and you should continue to invest in security awareness training and an advanced antivirus like Protegent360's Total Security and anti-malware solution. Also, don't forget the basics.
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