Cryptojacking: A growing Cybersecurity Problem in Companies

Quick definition of Cryptojacking: When a cybercriminal is looking for us to work for him.

We know, surely right now your brain has hung up. But it’s normal, everyone, when we think of cybercriminals the typical intruder who wants to access the company’s IT infrastructure with the purpose of stealing confidential and sensitive data and information comes to mind. However, the goal of the Cryptojacking-based cybercriminal is a bit different.

What is Cryptojacking and what is it really looking for?

Its main objective: To use a third party’s equipment and systems to mine cryptocurrencies..

For what purpose? To consume the resources of third parties.

Mining cryptocurrencies is an increasingly cumbersome and complex process, which consumes considerable resources: both energy and computational. It is for that reason that cybercriminals have found a way to carry out this process in a faster and more agile way; consuming your company’s resources, instead of their own.

How does Cryptojacking act to infect a system?

There are several ways your computer can end up suffering from the effects of Cryptojacking.

On the one hand By launching malware attacks such as. Phishing. Sending emails that when you open them or perform an action such as downloading a file or clicking on a link activates the malware that spreads through your system, is one of the most common practices due to its level of effectiveness.

Another option is through websites and browsers. There are websites, created or hacked by cybercriminals that when a computer accesses it, without being aware, automatically activate the user’s internet connection to start mining.

What does Crytpojacking mean for your company?

When it infects a personal computer it’s a nuisance, but when it manages to access all the computers and systems in your company it can become a real headache because…

• It wastes and consumes your resources Cryptojacking : Already in itself, the electricity bills of companies are usually exorbitant, so imagine if your computers work around the clock 24 hours a day, 7 days a week … That’s why in reality Cryptojacking can be detected relatively easily, because you will see how your electricity bills increase uncontrollably.
• Technical problems and slowness of your computers: Actually, computers are not prepared to mine cryptocurrencies all day long. This task, for them, is an overexertion in their systems that can cause: Slowness of the equipment or operating systems that run. This will cost you extra resources, having to invest them in technical service to fix the computers or change them.
• They jeopardize the computer security of the company.: It is true that the first objective of Cryptojacking is not to steal data or confidential information, but you cannot ignore that these cybercriminals have access to your computers, and therefore, they also have access to all your information. This can be a very serious cybersecurity problem.

What measures can you take to prevent Cryptojacking in your company?

Monitoring of resources

Just as you monitor your computers to find vulnerabilities or security breaches, you can monitor resources to find out how much a computer consumes and whether or not it is the usual or not. This way, in case of Cryptojacking you will realize sooner rather than later to take the necessary measures.

Awareness and training of your team on Cryptojacking.

Awareness and training your teams to be able to detect threats before they infect your system will be critical.

For example, warn them to browse only secure websites with HTTPS://, prevent them from installing programs or plugins without the authorization of the company’s IT department, or teach them how to detect phishing emails.

In Cybermatters we have a service known as Cybermatters Training. We are dedicated to train your team to teach them how to detect phishing emails before the malware spreads through the system.

Implementation of cybersecurity solutions.

Having a cybersecurity strategy is of utmost importance to avoid cyber-attacks on your systems, in addition to the implementation of cybersecurity solutions such as: Firewalls, endpoints, anti-phishing… as well as, the realization of backup copies to avoid the loss of information in the event of a cyber-attack.

In this way, you will increase the level of IT security of your company and make things more difficult for cybercriminals.

Do you need help with your company’s IT security? We invite you to read the following case study to get an idea of how we work or contact us directly at the following link.