Crypto Malware: What Is It and How to Identify Them?
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.
