If you haven’t heard of the term “cryptojacking,” it is the latest cyber threat to hit the SMB market. Over 3 million attacks have been detected this year, posing significant threats to small and medium-sized business around the world.  This article explains what you need to know about cryptojacking, the rise of cryptocurrency, and how both directly impact your website security.

What Exactly is Cryptocurrency? 

Cryptocurrency is a decentralized, anonymous form of digital currency created through highly sophisticated computing resources. Cryptocurrency has gained popularity around the world with retailers as large as Microsoft accepting it as a form of payment.  However, the fact that transactions are made anonymously, and the currency can be created by anyone with a powerful computer and the right software, has quickly made cryptocurrency a favorite for hackers.

Stealing Virtual Money 

Cryptojacking is the unauthorized, malevolent use of cryptocurrency mining scripts, or the software designed to create cryptocurrency. These scripts harness website visitors’ computer resources to create cryptocurrency.  While there are legitimate uses for these mining scripts, they are more commonly used for illegal purposes due to the high return for relatively minimal effort.

Mining Data Without Permission 

Cryptojacking occurs when hackers run mining scripts on a website, usually through a vulnerability in the system. These scripts are then used to hijack website visitors’ computers. Unlike more traditional cyber attacks such as phishing, cryptojacking attacks are often symptomless for the website owner.

The Effects of Cryptojacking 

  • Applications on their computers suddenly crash or close
  • Laptops may overheat
  • In rare instances, the compromised website may experience slow load times, but this is more frequently a symptom of a misconfiguration or improper website optimization.

How Can You Stay Safe? 

The following are steps you can take to prevent yourself against the rising threat of cryptojacking:

  • Daily malware scans and automatic malware removal to mitigate problems as soon as they begin
  • Vulnerability scans and automated security patching will help to plug leaks in your website code before it can be exploited by hackers
  • Using a web application firewall (WAF) to filter malicious and suspicious traffic.
  • Implement a fully managed cyber security option through NexusTek

The Next Step in Security 

The average website is the target of 50 cyberattacks per day, making protection more about prevention. NexusTek provides Website Vulnerability Scanning Services in addition to 24/7/365 network monitoring and patching. Our experts offer long-term strategic guidance to ensure your business stays protected against cryptojacking and other cyber threats that are on the horizon.

Learn more about a Free Cyber Security Consultation by calling 877-470-0401 or email us at info@nexustek.com.

 

 

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