What is cryptojacking?
With the rise in technical advancements, cybercrime was born and it grew rapidly. And in a technology-dominated world, cybercrooks kept on looking for loopholes. Let’s talk about a recent development that changed the world from a lot of perspectives- cryptocurrency.
As work and life were going online, people thought- why not money? And so, crypto made its way into the world. It is a digital and decentralized currency that that can be used to trade, make payments and more, along with their in-built potential to be stored and rise in value.
Today, you can find so many different cryptocurrencies each with its unique traits but one common connecting point- the Internet. And you know what that means, right?
Yes, more and more possibilities for cyber threats and unknown levels of data vulnerabilities. And when it comes to cryptocurrency, there’s a particular cyber threat that got named after it- Cryptojacking, where a cyber crook uses an individual’s computing power to mine crypto illegally.
This form of cyber attack is capable of targeting a single user, major institutions, and even massive industrial control systems and has acquired a popularity for extracting funds from their victims in cryptocurrencies.