In this rapidly evolving cryptocurrency landscape, crypto-malware emerged as cryptocurrencies grew in popularity and value. It is malicious software that exploits a computer’s processing power to mine cryptocurrencies without the user’s permission. This type of malware became prominent as cryptocurrencies gained value, with the first known cryptojacking.
However, in this article, we’ll get to know more about crypto-malware, how it happens, how to safeguard against crypto-malware, and many more things. So, read till the end for a complete understanding of crypto-malware.
What is Crypto Malware?
Crypto malware is a type of malicious software specifically designed to exploit the processing power of computers or devices to mine cryptocurrencies without the user’s permission. This is done through a process called cryptojacking, where the malware secretly uses the device’s resources to mine digital currencies like Monero, which are chosen for their strong privacy features that make them hard to track.
This unauthorized mining can lead to increased CPU usage, slower device performance, overheating, and higher electricity bills. Crypto malware often spreads through infected email attachments, malicious links, compromised websites, and software vulnerabilities.
How did they happen in the crypto landscape?
Crypto malware emerged in the crypto landscape as cryptocurrencies gained popularity and value. The first known cryptojacking script was released by Coinhive in 2017, allowing website owners to embed mining code on their sites to use visitors’ computing power for mining. This marked the beginning of a surge in crypto malware attacks.
Cybercriminals quickly adopted these techniques, finding cryptojacking more attractive than other forms of cyber attacks like ransomware. This is because cryptojacking is less likely to attract law enforcement attention, is relatively low-risk, and is highly profitable. As cryptocurrencies like Monero, which offer enhanced privacy, became popular, so did the use of crypto-malware to mine them.
Hackers utilize various methods to carry out crypto malware attacks, such as embedding malicious mining scripts in ads and websites, exploiting software and operating system vulnerabilities, and even targeting weaker security in Internet-of-Things (IoT) devices.
How to safeguard against Crypto Malware?
To safeguard against crypto-malware, consider the following measures:
Regular Software Updated: Regularly update your operating system and software to ensure you have the latest security patches that protect against known vulnerabilities.
Use Trusted Antivirus Software: Use strong antivirus and anti-malware programs that can detect and remove crypto malware. Many of these programs offer real-time protection against threats.
Be Cautious with Emails: Avoid opening email attachments or clicking on links from unknown or suspicious sources. Cybercriminals often use phishing emails to spread malware.
Ensure to Download the Software from Authentic Website: Only download software from reputable websites and developers to reduce the risk of encountering malware-laden programs.
Use a Firewall: Enable a firewall on your computer to block unauthorized access and filter incoming and outgoing traffic, adding an extra layer of protection.
Monitor CPU Usage: Regularly check your device’s CPU usage through tools like Task Manager (Windows) or Activity Monitor (macOS). Unexplained high CPU usage might indicate a crypto malware infection.
By following these practices, you can reduce the chance of falling victim to crypto malware attacks.
How to identify Crypto Malware?
Identifying crypto malware involves looking for several key signs that may indicate your device has been compromised. Here are some ways to spot it:
Increased CPU Usage: Crypto malware typically hijacks your computer’s processing power. If you notice a sudden and sustained spike in CPU usage, especially when your computer is idle, this could be a sign of crypto malware. You can monitor CPU activity using Task Manager on Windows or Activity Monitor on macOS.
Slow Performance: Because crypto malware uses a significant portion of your CPU resources, it often causes your device to run slowly. This sluggish performance can affect all aspects of your computer’s operation, from opening applications to browsing the web.
Overheating and Noisy Fans: Increased CPU activity can cause your computer to overheat, making your fans work harder to cool it down. If you notice your device is hotter than usual or the fans are running loudly for no apparent reason, it might be due to crypto malware.
Unusual Network Activity: Crypto malware often communicates with external servers to receive instructions or send mined data. Monitoring your network traffic for unusual patterns or connections to unknown servers can help identify an infection.
Difference between Crypto Malware and Ransomware
Crypto Malware: Crypto malware is designed to secretly mine cryptocurrencies using the victim’s computer resources without their consent. This malicious software runs quietly in the background, exploiting system and browser vulnerabilities, which makes it hard to detect.
The impact of crypto malware includes slow performance, high CPU usage, overheating, and increased electricity bills due to the intensive computing tasks it performs. Hackers profit from crypto malware by mining digital currencies, which they can later exchange for real money.
Ransomware: Ransomware, on the other hand, encrypts files on the victim’s computer and demands a ransom for their decryption. It typically spreads through phishing emails, malicious attachments, or by exploiting software vulnerabilities.
Once activated, ransomware locks files and displays a ransom note with payment instructions, making its presence immediately known. The impact of ransomware is significant, as it makes critical files inaccessible, potentially leading to data loss and operational downtime for businesses. Hackers profit by extorting victims for money, usually in the form of cryptocurrencies, in exchange for a decryption key to restore access to the encrypted files.
Conclusion
Crypto malware is malicious software that covertly uses a device’s processing power to mine cryptocurrencies, leading to increased CPU usage, slower performance, overheating, and higher electricity bills. Cybercriminals prefer it over other attacks like ransomware due to its lower risk and high profitability.
