Cryptojack makes Bitcoin skyrockets

Researchers have recorded a 53 percent surge in coin miner malware attacks in 2020.

The rapid increase in coinminer malware suggests that malware authors are taking advantage of the price trend in recent months and increasingly spreading malware that aims to exploit other people’s computer resources for illegal mining activities. This correlation is not surprising but is nevertheless worrying for legitimate miners and investors

Mining malware works undetected on the user’s device, making it particularly insidious. The malware doesn’t seek to steal data or blackmail the user, but to remain in the background as long as possible and carry out mining stealthily. To do this it uses resources from the infected computer, such as the processor, graphics card and main memory, as well as network bandwidth in a cryptojacking attack.null

The three main types of coinminers discovered by the research include executable files, browser-based cryptocurrency miners, and advanced fileless miners all of which have the ability to run on a variety of devices and systems.

Crypto crime is undoubtedly rising and is becoming an issue that cannot be ignored. Users of Bitcoin must be extra vigilant and take precautionary steps to prevent from being targeted.