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
Monday, November 19 2018

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

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