Cryptojacking: Hackers Don’t Always Want Your Data

Among the various cyberthreats that currently exist, there is an increase in the number of systems that are being hacked for the purpose of cryptomining.  Cryptomining, also known as cryptojacking, which is the illicit  mining of bitcoin and other cryptocurrencies using compromised systems is rapidly replacing ransomware as the exploit of choice. Hackers are exploiting systems in order to use that computer processing power, storage, and memory to earn cryptocurrency by running programs that mine cryptocurrencies.

The cryptojackers can access your systems through all the standard means of breaking into vulnerable systems that don’t have appropriate security updates. Even network devices like your home router, cellphones, and internet of things devices (like Amazon Echo and Google Home; or a smart fridge or tv) can be susceptible to being exploited. And in the process, they can run up your electricity bill.

You may not know that you’ve been hacked, other than system performance slowdowns (when noticeable) and higher electric bills. The usual ransom notes, or markers of stolen passwords or credit card numbers are not present, because they are not necessarily trying to access your personal data. Moreover these hackers try to avoid detection for as long as possible to increase their potential earnings.

While the primary purpose of the hack is not to steal your data, you still face a threat if someone has compromised your network to perform cryptocurrency mining. It still represents a breach of security and the hackers can at any point maliciously target your data or systems. Additionally, the stealing of your computing resources could adversely affect the operations of your systems, and thus your business.

To limit your exposure to cryptocurrency mining hacks, keep your servers and computer systems up to date. Penetration testing can identify any vulnerabilities in web-based custom applications that you use. As a managed services provider and Miami IT consultants, we keep clients’ systems safe and design solutions that protect the systems and data of businesses. Call us for cybersecurity assessments.

Leave a Reply

Your email address will not be published. Required fields are marked *