Velocity Technology Partners Blogs

Despite Blockchain Security, Cryptocurrency Has Thieves Too

Despite Blockchain Security, Cryptocurrency Has Thieves Too

Cryptocurrencies are still one of the better known uses of blockchain technology, and though their values seem to have leveled off since the explosive growth they experienced a few months ago, that has not stopped people from seeking them out. Of course, where there’s money to be had, you’re sure to find cybercriminals.

This should come as absolutely no surprise. Cryptocurrencies are ideal for cybercriminals, largely due to their high values and equally high levels of anonymity. However, mining even the smallest amount through legitimate means is an expensive and lengthy process that requires specialized computer hardware and significant amounts of electrical power.

As a result, there has been a rise in a new threat to users called crypto jacking. Malware will infect a user’s device and hide in the background, leeching off of the host computer’s resources to mine for cryptocurrency. This causes the exact side effects that you would expect: increased electric bills and hindered performance for the user, with an increased rate of wear on their computer components. Worse, this malware only requires a compromised website to be visited for the malware to go to work - and while this once meant that the malware would only work as long as the unwitting host was on the website, cybercriminals have even found a way to work around that. Now, some infected sites will create a pop-up that hides behind the computer’s taskbar, unnoticed, and continues to eat up resources for the cybercriminal’s profit.

In addition to malware downloads, crypto-miners are often spread through hidden code on the websites themselves, as well as untrustworthy browser extensions. This variety of the malware has been discovered in the websites for the United States Courts, the United Kingdom’s National Health Service, and the Australian state governments of Victoria and Queensland. It was found in a text-to-speech and translation plugin used on those sites. The developer of the plugin removed it from all websites immediately.

Business owners should pay close attention to these events, as they could easily have a direct effect on business operations. After all, you pay a pretty penny for your Internet and its bandwidth - why should it profit some cybercriminal, and not you? Furthermore, mining cryptocurrency is no easy task for any hardware, which means it shortens the life of the machine and the components inside. This ultimately means that you will also be on the hook to replace that hardware sooner, costing your business even more.

Fortunately, not all hope is lost. Many browsers are incorporating anti-cryptocurrency measures, and some antivirus programs can block crypto jacking attempts. There are also some extensions available for some browsers that help to stop cryptomining and crypto jacking scripts.

At Velocity Technology Partners, we’re here to help keep your IT running efficiently. This includes preventing threats and malware. Give us a call at (800) - 983 - 5765 to find out what we can do for you.

The Blockchain May Soon Protect Your Entire Identi...
Getting to Know Technology: Processor


No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Tuesday, October 23 2018

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Google Drive Computer Chrome Wireless Internet Technology Blockchain Efficiency Financial Microsoft Excel Virus Mobile Security Employer-Employee Relationship Emergency Wireless Technology Mobile Device Management Tablets Cast Collaboration BDR IT Solutions Data Storage Outsourced IT Operating System Social Engineering Innovation Office 365 Big Data Evernote Wi-Fi Gamification Value Outlook Identities App Encryption Holiday Gmail IT Management Android Sales Government Privacy Windows Ink Network Security Data Protection User Error Managed IT services Tech Term Thank You OneNote Twitter Hosted Solution Devices MSP Mobile Devices Hard Drive Lifestyle Gadgets Managed IT Services Risk Management Word Data Breach Language Data Theft Business Management IT budget Application Smartphones Alert Managed Service Provider Redundancy Data Management Regulation Browser User Tips Unsupported Software Security WannaCry Remote Computing Wireless Charging Phishing Compliance Spyware Computer Forensics Updates Ciminal Internet Edge Microsoft Office Travel Unified Communications Excel Vendor Management Saving Money Fraud Cleaning Data Security Small Business Monitoring Server Screen Mirroring Network Websites Backup Adobe Windows Audit Best Practices Communications Managed IT Specifications Students Apps Artificial Intelligence Financial Technology eWaste Proactive IT Cloud Computing Networking Comparison VPN Managing Stress Softphones Identity Theft Business Computing Workers Storage Licensing Gifts Virtualization Retail Streaming Media Sports Identity Hybrid Cloud Work/Life Balance BYOD Politics Legislation Vulnerability Internet of Things Google Assistant Bring Your Own Device Education Computers Mobility Software Ransomware IT support Conferencing Connectivity Data Backup Two-factor Authentication Google Docs Hackers WIndows Server 2008 Data Recovery Malware Management Maintenance Shortcut File Sharing Business Continuity Analysis Sync Data Privacy Apple Disaster Recovery Patch Management Hardware Content Filtering iPhone FAQ Tip of the Week Microsoft Chromebook Windows 10 Remote Monitoring intranet Law Enforcement Cloud Cost Management Charger Best Practice Passwords Memory Cortana Cybercrime Telephone The Internet of Things IoT Personal Information Marketing Antivirus Email Spam Business Congratulations Computing WiFi Google Maps Tech Support Credit Cards Printing Safety Microsoft Word Communication Telephone Systems Flexibility Software as a Service Smartphone Applications Cybersecurity History Content Filter Money IT Support App store Update PowerPoint Commerce VoIp IT Services Smart Tech Data Device Security HBO Legal Hosted Solutions Automation Google Project Management SaaS Social Media Company Culture Data Loss Productivity Router NFL Proactive