What Is Cryptojacking

What is Cryptojacking?

Cryptojacking is a malicious act that utilizes infected devices to secretly mine cryptocurrencies. To do this, the attacker exploits the victim’s (computer) processing power and bandwidth (in most cases this is done without the victim’s awareness or consent). Typically, the malware responsible for this type of activity is designed to use enough system resources to go unnoticed for as long as possible. Since cryptocurrency mining requires a lot of processing power, attackers try to break into multiple devices. This way they can gather enough computing power to perform this low-risk and low-cost mining activity.

Earlier versions of the malware relied on victims clicking on malicious links or email attachments to inadvertently infect systems with hidden cryptominers. However, over the past few years, more sophisticated malware has been developed, taking the method of Cryptojacking to the next level. Currently, most mining malware runs through scripts implemented in websites, a method known as web-based Cryptojacking.

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Web-Based Mining Cryptojacking

Web-based encryption attacks (aka drive-by cryptomining) are the most common form of malware. Typically, such malicious activities are carried out through scripts that run within the website, allowing the victim’s browser to automatically mine cryptocurrencies during the visit. These web-based mining software are secretly embedded in websites regardless of their popularity or category. For the most part, Monero is the cryptocurrency of choice because its mining process does not require as much resources and computing power as Bitcoin mining. Additionally, Monero offers a higher level of privacy and anonymity, making transactions more difficult to trace.

Unlike ransomware, malicious miners rarely damage computers and the data stored in them. The most noticeable effect of Cryptojacking is a decrease in CPU performance (often accompanied by an increase in fan noise). However, for enterprises and large organizations, reduced CPU performance can affect their work, further resulting in considerable losses and many missed opportunities.

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CoinHive

The web-based Cryptojacking method first appeared in September 2017, with a public release by a crypto miner then named CoinHive. CoinHive consists of a JavaScript cryptominer that is said to have been created for a noble purpose: to enable website owners to monetize their freely available content without having to rely on unpleasant ads.

CoinHive is compatible with all major browsers and is relatively easy to deploy. The creators keep 30% of all cryptocurrencies mined through the code, utilizing encryption keys to identify user accounts that should receive the other 70%.

While CoinHive was initially seen as an interesting tool, it has received a lot of criticism as cybercriminals are now maliciously injecting mining software into several hacked websites (without the owner’s knowledge or permission).

In the few cases where CoinHive is used correctly, the JavaScript for mining hijacking is set to a voluntary version called AuthedMine, a modified version of CoinHive, which can only start mining after receiving permission from the visitor.

Unsurprisingly, AuthedMine has a different scale of adoption than CoinHive. Search results on PublicWWW show that at least 14,900 websites are running CoinHive (5,700 of which are WordPress sites). AuthedMine, on the other hand, has about 1,250 pages.

In the first half of 2018, CoinHive was the top malware threat tracked by antivirus programs and cybersecurity firms. However, recent reports suggest that cryptojacking is no longer the most prevalent threat, as banking Trojans and ransomware attacks are now the primary and secondary threats.

The short rise and fall of cryptojacking may have something to do with the work of cybersecurity firms, as many cryptojacking codes are now blacklisted and can be quickly detected by most antivirus software. Furthermore, recent analysis shows that network-based mining hijacking is not as lucrative as it seems.

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Example of Cryptojacking

In December 2017, CoinHive’s code was silently embedded into the WiFi network of several Starbucks stores in Buenos Aires, according to customer reports. The script mines Monero by utilizing the computing power of connected devices.

In early 2018, CoinHive’s miners ran on YouTube ads via Google’s DoubleClick platform.

During July and August 2018, a minerjack attack infected 200,000 MikroTik routers in Brazil, injecting the CoinHive code in a flood of web traffic.

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How to Detect and Prevent Cryptojacking Attacks?

If you suspect that your CPU is being used more than normal and the cooling fan is making noise, chances are your rig is being used for mining. It’s important to determine if your computer is infected or if your browser is performing a cryptojacking attack. While web-based cryptographic attacks are relatively easy to spot and stop, cryptojacking software targeting computer systems and networks is not always easy to detect because these things are often hidden or disguised as legitimate software.

Some browser add-ons are effective in preventing most web-based hijacking attacks. In addition to restricting access to web-based mining software, some of the measures are based on a fixed blacklist. But this blacklist can easily become outdated, as new mining hijacking methods are constantly emerging. Therefore, it is recommended to keep the operating system updated and use the latest antivirus software.

It is important for businesses and large organizations to educate employees about Cryptojacking and phishing techniques, such as fraudulent emails and fake websites.

  • Pay attention to your device performance and CPU activity;
  • Install browser plugins such as MinerBlock, NoCoin and Adblocker;
  • Be careful with email attachments and links;
  • Install a trustworthy antivirus software to keep your software applications and operating system up to date;
  • For businesses, teach employees about mining and phishing techniques.

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