What Is Cryptojacking? (2024)

FAQs

What is an example of cryptojacking? ›

Cryptojacking News: Real-world Examples

When visitors went to the Homicide Report page, their devices were used to mine Monero. It took awhile for the threat to be detected because the amount of computing power the script used was decreased, so users would not be able to tell their device had been enslaved.

Distinguishing Legitimate Mining from Cryptojacking

The former is a legal and intentional process where individuals or companies use their resources to mine cryptocurrencies. In contrast, cryptojacking is inherently non-consensual and illegal.

Even though cryptojacking is modest, it can build up over time and cause hardware damage, lower system performance, and higher operating costs because of energy usage. On the other hand, ransomware's immediate and severe effects include data loss, downtime, monetary losses, and reputational harm.

Is crypto mining still profitable? Yes. Crypto mining can be profitable - but there are factors miners need to consider including electricity costs, mining difficulty, and market conditions.

Cryptocurrency crimes are criminal acts that involve cryptocurrency in some way. While there aren't many crypto-specific laws on the books, how cryptocurrency is used can lead to federal criminal charges if one is not careful.

Bitcoin addresses themselves don't directly reveal personal information. However, if the police can connect a Bitcoin address to a real-world identity (e.g., through an exchange, a service provider, or investigative work), they can potentially trace the wallet to its owner.

Use anti-cryptomining extensions—cryptojacking scripts are generally deployed in web browsers. Use browser extensions, including No Coin, minerBlock, and Anti Minder, to block cryptominers across the web. Use ad-blockers—cryptojacking scripts are often embedded in web ads.

Considering this, cryptojacking is a way for criminals to cut costs while increasing their potential for financial gain. That's part of why it's growing in popularity, with 332 million cryptojacking attacks tallied in the first half of 2023, a record 399 percent increase from 2022.

Is my computer cryptojacked? ›

If your PC or Mac slows down or uses its cooling fan more than normal, you may have reason to suspect cryptojacking. The motivation behind cryptojacking is simple: money. Mining cryptocurrencies can be very lucrative, but turning a profit is now next to impossible without the means to cover large costs.

Cybercriminals have found many ways to use cryptocurrencies for their benefit. One of the most common ways is through ransomware attacks. In a ransomware attack, a cybercriminal will gain access to a victim's computer and encrypt their files, making them inaccessible.

No One is Immune to Cyber Attacks.

Cryptojacking meaning & definition

Cryptojacking is a type of cybercrime that involves the unauthorized use of people's devices (computers, smartphones, tablets, or even servers) by cybercriminals to mine for cryptocurrency.

CryptoLocker is one of the most dangerous examples of crypto ransomware, a malicious program that encrypts everything on your device and demands you pay a ransom to have your data back. Coinhive. Coinhive was one of the best-known cryptojackers using JavaScript.

Examples of payment cryptocurrencies include Bitcoin, Litecoin, Monero, Dogecoin, and Bitcoin Cash.

All about cryptojacking

Cryptojacking (also called malicious cryptomining) is an online threat that hides on a computer or mobile device and uses the machine's resources to “mine” forms of online currency known as cryptocurrencies. Malicious cryptominers often come through web browser downloads or rogue mobile apps.