Zain khan

2024/03/11 19:27

Crypto Malware: What Is It And How Can It Be Detec

Remaining vigilant and consistent in the constantly evolving cybersecurity threat landscape is a critical action to take. Amid these threats, crypto-malware stands out and is growing in popularity.

Interestingly, there were more than 300 million documented cases of crypto-virus attacks in the first half of 2023. Compared to the same period in 2022, this is about a 4-fold increase.

What Is Crypto Malware?
Crypto malware is an innovative software that steals the processing power of your device or computer and uses it to mine cryptocurrency. This sneaky method, also known as cryptojacking, stealthily drains your processing power.

Due to their privacy-focused technology, which thwarts authorities’ attempts to trace them, cryptocurrency wallets like Monero (XMR) are a common target of these malware schemes. Recall that Coinhive released the first public cryptojacking script six years ago. With this malicious code, website owners might secretly mine cryptocurrency using their visitors’ devices.

Rise Of Crypto Malware Attacks
Data shows that passive crypto viruses are the new hallmark of hackers instead of disruptive cybersecurity attacks like ransomware. According to cybersecurity experts, a key rationale for this is that law enforcement authorities pay more attention to high-profile tactics, such as ransomware, than to less dangerous cryptojacking operations.

Furthermore, there needs to be more clarity about the legality of cryptocurrency mining, which gives malicious actors a cover for their heinous operations. One more motivating reason is the ease of implementing crypto virus attacks.

Processing power can be stolen for next to nothing, and the cryptocurrency gained is easily convertible to cash. Accordingly, cryptojacking has become an attractive alternative for criminal organizations.

Difference Between Crypto Malware And Ransomware
Regarding cyber threats, crypto-malware, and ransomware are distinct in how they work and what they aim to accomplish. Without the user’s awareness or permission, a cryptovirus secretly uses a device’s processing power to mine cryptocurrencies such as Bitcoin or Monero.

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