Cryptojacking

What it is: A type of cybercrime where attackers secretly use a victim’s computing resources, such as CPU, GPU, and network bandwidth, to mine cryptocurrency without the owner’s knowledge or consent. This illicit activity can significantly degrade system performance, increase energy consumption, and potentially lead to higher operational costs for the victim.

How it works: Cryptojacking can be implemented through various methods. One common approach involves injecting malicious JavaScript code into websites or online advertisements. When a user visits the infected website, their browser executes the code, and their device’s resources are used to mine cryptocurrency as long as the page remains open. Another method involves installing malware, often a cryptocurrency miner, directly onto the victim’s computer or server, typically through phishing emails, software vulnerabilities, or drive-by downloads. Once installed, the miner operates in the background, often consuming significant system resources.

Example with key data: In 2018, the Coinhive service, which provided a JavaScript miner for websites, was widely abused for cryptojacking. While intended as a legitimate monetization strategy for website owners, many malicious actors embedded the Coinhive miner (or similar miners) into websites without user consent. At its peak, Coinhive was estimated to be present on tens of thousands of websites, silently mining Monero (XMR) using the CPU power of visitors’ computers. Key data includes the fact that Monero, with its focus on privacy and relative ease of mining on standard hardware, was a popular target for cryptojackers. The widespread use of services like Coinhive, even for legitimate purposes, demonstrated the potential scale of browser-based cryptojacking and its impact on millions of unsuspecting users by consuming their device resources and potentially impacting battery life and performance.