Cryptomining: The Criminal Side
Cryptomining is a key part of the cryptocurrency craze. As the idea develops, so too has new ways to exploit it. The ease of introducing new coins has provided a way for criminals to introduce new coins that better meet more nefarious needs. Enter Monero. Bitcoin proved to be to easy to “follow the money,” so, Monero was designed to be hard to track.
Mining requires either expensive, incredibly powered systems, or; a large number of systems. The introduction of programs that can mine in the background using remaining processing power created the perfect set up for the cryptomining criminal. If criminals can get the software installed on a computer it can be used to quietly mine cryptocurrency in the background. Large enough botnets of computers doing this and a criminal can generate huge profit with complete anonymity. Out of the many ways hackers of exploited the systems to generate money, this may be one of the easiest and safest. A dangerous combination.
Unlike more obvious malware, these new illicit cryptomining programs don’t have very obvious impacts on the infected computer. Besides periodic slower speeds, the programs can reside generally totally unnoticed on a system. Silently mining away and generating profit for criminals. For corporations though this can add up to a huge expense when servers are running at max capacity at all times mining cryptocurrency. Active monitoring is the best defense. Protocol 46 active monitoring can help detect mining activity on your network and keep you safe from attacks. Cryptocurrency is here to stay, so check back here for the latest cryptocurrency news.