Cryptocurrency News – Cryptocurrency mining malware attacks grow manifold in 2018

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According to a report released by Trend Micro, the number of cryptocurrency mining attacks have increased by 956% in the 1st half of 2018. This compared to the corresponding period last year.

The total number of cryptocurrency mining attacks which were detected by Trend Micro stand at around 0.8 million. Last year same time, they were around 74,000. This clearly indicates that more and more hackers are opting for cryptocurrency mining attacks rather than just to stealing the data. This is simple economics. The profit has increased manifold in cryptocurrency mining attacks.

The report clearly stated that over a period of 6 months, they have discovered more than 47 new different type of cryptocurrency mining malware. This ensures that hackers are willing to take the extra step in order to create newer malware in order to get newer victims. With the new malware, they are able to bypass the antivirus programs as well. In some of the cases, it was also found that the same malware was used with the newer name. This again is an indication that hackers are trying every trick in the book in order to mine cryptocurrencies by hacking into the computers.

The problem is that the computer which is mining cryptocurrency in the background will not be able to dedicate the resources to the main processes. Moreover, the consumption of electricity will also increase significantly. Also, the entire network will slow down. As a result, businesses which are using these computers will not be able to conduct their day to day operations. The life of the machine is reduced as well. Cryptojacking not only impacts the operating system but also the hardware. Due to this very reason, the hardware can be damaged due to extensive usage.

The trend has been consistent with what the other antivirus providers, as well as security companies, have reported. Kaspersky also reported that new types of cryptocurrency mining malware is being launched by hackers in order to hack into the machines.

It is up to the users to be cautious in order to not just detect this malware but also ensure that they are not falling into the trap of the hackers to install them in the 1st place. When that happens, it will automatically become easier for the users to protect their machines. Moreover, it is also the responsibility of the antivirus programs as well as the digital security companies to provide enhanced security to the users. Only when that happens, the cryptocurrency mining malware spread will be halted. For now, however, it seems like most of the users are on their own as hackers get more and more innovative when it comes to cryptocurrency mining malware.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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