The Silent Cyber Threat Draining Your Resources: Cryptojacking

Cyber criminals are constantly finding new ways to exploit businesses and individuals. One of the fastest-growing and often overlooked threats in recent years is cryptojacking.

Unlike traditional attacks that steal data or lock systems, cryptojacking silently hijacks your computing power to mine cryptocurrency. This invisible drain can slow down your systems, drive up your energy bills and put your organization at risk without you even realizing it.

Read: IT Best Practices that Get Missed: Cybersecurity Basics

What Is Cryptojacking?

Cryptojacking, also known as malicious cryptomining, is the unauthorized use of someone’s computer, server or network to mine cryptocurrency. Hackers install malicious scripts – sometimes hidden in websites, emails or software updates – that run in the background without the user’s knowledge. Once active, the code hijacks processing power to perform complex calculations required for crypto mining.

It’s a lucrative and stealthy alternative for hackers who want to avoid the high costs of specialized hardware and electricity. Instead of stealing data, they steal resources to make a profit. For businesses, this can mean slower systems, inflated cloud bills and even hardware damage from overworked machines.

How Cryptojacking Works

Attackers typically gain access to systems in two ways:

• Malware-based cryptojacking: Hackers trick users into downloading malicious software through infected attachments or compromised applications. Once installed, the malware runs silently in the background, even if the user isn’t actively browsing the web.
• Browser-based cryptojacking: Known as “drive-by” mining, hackers inject malicious JavaScript into websites, ads or browser extensions. When unsuspecting users visit the compromised website, their browser begins mining cryptocurrency until the tab is closed.

Signs You’re a Victim of Cryptojacking

Because cryptojacking doesn’t immediately steal data or lock systems for a ransom, it often goes unnoticed. Still, there are some warning signs:

• Sluggish performance: Computers and servers suddenly slow down or crash more frequently.
• Overheating devices: The device’s fans run constantly and loudly to dissipate the heat generated by the over-taxed CPU. Your device could also feel hot to the touch, even when idle.
• Increased bills: Because cryptomining consumes so much electricity, a noticeable spike in costs is a major red flag.
• Security alerts: Antivirus or endpoint monitoring tools may flag suspicious scripts or processes as they move laterally through your system to achieve other goals, like stealing sensitive information.
• Rapid battery drain: Cryptojacking can significantly reduce battery life, especially on laptops and phones.
• High CPU usage: A check of your device’s task manager or activity monitor might reveal a sudden spike in CPU utilization, even when you aren’t running any resource-intensive applications.

How to Mitigate Cryptojacking

To defend against cryptojacking, your company should take a layered approach:

• Patch systems regularly: Outdated software often provides attackers with easy entry points. Regularly update to close these security gaps.
• Deploy endpoint protection: Use endpoint detection tools that specifically detect cryptomining scripts and malicious processes on your devices.
• Monitor performance and usage: Set alerts for abnormal spikes in CPU or network usage that may indicate cryptojacking activity.
• Deploy ad and script blockers: Configure browsers and email filters to block malicious ads and scripts.
• Train employees: Train staff to recognize phishing attempts, including suspicious links or attachments. Also teach them safe browsing and file-sharing practices.
• Disable JavaScript: On a site-by-site basis, consider disabling JavaScript for websites you don’t trust to prevent drive-by mining.

The Future of Cryptojacking

As cryptocurrencies continue to gain popularity, cryptojacking is likely to remain a favored tactic among cyber criminals. In fact, it increased by 659% in 2023. Future trends include:

• Increased cloud exploitation: Attackers are increasingly targeting cloud infrastructures, where they can exploit massive, scalable computing resources for maximum profit.
• More sophisticated tactics: Future cryptojacking tactics will likely become stealthier, making them harder to detect. Cryptojacking could also be used as a diversion to mask more serious attacks, such as data theft or ransomware.
• IoT exploits: The rise of the Internet of Things (IoT) devices presents new, lucrative targets, as they often lack monitoring tools.

Protect Your Company with Thriveon

Cryptojacking is a silent but costly cyber threat. Proactive cybersecurity services like the ones Thriveon provides can keep your business secure so you can stop cryptojacking before it hijacks your system. Our Fractional CIO can audit and align your business to 500 industry best practices.

Schedule a meeting now to see how we can keep your company secure.