Cryptojacking Skyrockets: Here’s How It Works

cryptonews.com:

Cryptojacking has been on the rise with hackers targeting financial firms. It is a type of cyber attack which involves hijacking a computer and using its power to mine cryptocurrencies.

It is a malicious activity where unauthorized individuals or software use someone else’s computer or device to mine cryptocurrency without their knowledge or consent. It often involves infecting a system with malware that exploits its processing power to mine cryptocurrencies like Bitcoin or Monero, benefiting the attacker.

Recently cryptojacking has been on the rise with hackers increasingly targeting financial firms such as banks and trading houses, according to cybersecurity firm SonicWall.

Cryptojackers and Privacy Coin Monero

Ask anyone knowledgeable about the crypto market what’s the shadiest digital currency out there right now and without hesitation it’s likely they’ll tell you it’s Monero. Sometimes referred to as “the drug dealer’s cryptocurrency of choice” because of its sharp focus on privacy, Monero was founded in 2014, as reported in Investing.com.

It is common for cryptojackers to mine privacy cryptocurrency such as Monero which is often used by cybercriminals. Due to Monero’s privacy features it has often attracted cypherpunks who are all for privacy which is not provided in other cryptocurrencies. Monero has been linked to illicit activities such as money laundering, darknet markets, ransomware, cryptojacking.

Crackonosh Malware Case

According to a report from security company Avast, in 2021 Crackonosh installed itself by replacing critical Windows system files and abusing the Windows Safe mode to impair system defenses. This malware further protects itself by disabling security software, operating system updates and employs