What Is Cryptojacking and How Does It Work in 2024?

Published in

Web3Prophet

9 min readMar 22, 2024

Cryptojacking, a prevalent form of cybercrime in 2024, involves the unauthorized use of someone else’s computer to mine cryptocurrency. This practice typically occurs without the user’s knowledge or consent, often resulting in significant performance degradation and increased electricity consumption. Cryptojacking is primarily executed through malicious software, such as malware or scripts embedded in websites, which exploit the processing power of the victim’s device to mine cryptocurrencies like Bitcoin or Monero.

These mining operations generate profits for the attackers, who can covertly mine cryptocurrency at the expense of the victim’s resources. To protect against cryptojacking, users can employ various security measures, including installing reputable antivirus software, using ad blockers to prevent malicious ads, and regularly updating their operating systems and software to patch known vulnerabilities. Additionally, being cautious of suspicious emails, links, and downloads can help mitigate the risk of falling victim to cryptojacking attacks in 2024.

What is Cryptojacking?

Cryptojacking refers to the unauthorized use of a person’s computer, tablet, mobile device, or even network to mine cryptocurrency. This process is usually carried out by injecting malicious code into a victim’s device or by tricking them into running a script that allows the attacker to use the device’s processing power to mine cryptocurrency.

The goal of cryptojacking is to mine cryptocurrency without the victim’s knowledge, thereby generating profits for the attacker. Cryptojacking can result in several negative consequences for the victim, including reduced device performance, increased electricity consumption, and potential hardware damage due to overuse.

To protect against cryptojacking, users can install antivirus software, use ad blockers to block malicious ads, and avoid clicking on suspicious links or downloading files from unknown sources. Additionally, keeping software up to date and using strong, unique passwords can help prevent attackers from gaining access to devices and networks for cryptojacking purposes.

Evolution of cryptojacking techniques

Cryptojacking techniques have evolved significantly since their inception, reflecting the dynamic nature of cyber threats. Initially, attackers relied on malware to infect victims’ devices, using techniques like phishing emails or malicious downloads to distribute the malware. As awareness of these tactics grew, attackers began utilizing more sophisticated methods, such as exploiting vulnerabilities in web browsers and websites to run crypto mining scripts without the user’s knowledge.

This approach, known as “drive-by cryptojacking,” allowed attackers to target a larger number of devices across the internet. Furthermore, the emergence of fileless malware enabled attackers to carry out cryptojacking attacks without leaving traditional traces, making detection and prevention more challenging.

Additionally, some attackers have turned to cloud-based cryptojacking, where they compromise cloud infrastructure to mine cryptocurrency at scale. As a result, defending against cryptojacking requires a multi-layered approach that includes regular software updates, robust security measures, and user education.

How Does Cryptojacking Work?

Cryptojacking, also known as malicious cryptocurrency mining, is a form of cyber attack where a hacker uses someone else’s computer or device to mine cryptocurrency without their permission. Here’s how it typically works:

➢ Infection: The attacker injects malicious code into a website, online ad, or email attachment. When a user clicks on the infected content, the code is executed and infects their device.

➢ Mining Script: The injected code contains a mining script, often for a cryptocurrency like Monero, which utilizes the device’s processing power to mine coins.

➢ Resource Consumption: The mining script runs in the background, using the device’s CPU or GPU resources to solve complex mathematical problems required for mining cryptocurrency.

➢ Mining Rewards: Any cryptocurrency mined is sent to the attacker’s wallet, providing them with a source of income at the expense of the victim’s resources and electricity.

➢ Detection: Cryptojacking can be difficult to detect, as it often doesn’t cause obvious performance issues. However, victims may notice slower performance, increased heat generation, or higher electricity bills.

To protect against cryptojacking, users should install reputable antivirus software, use ad blockers, and be cautious when clicking on links or downloading attachments from unknown sources.

Types of Cryptojacking

There are two main types of cryptojacking:

Browser-Based Cryptojacking: This type of cryptojacking occurs when a victim visits a website that has malicious code embedded in it. The code runs in the victim’s web browser, using its processing power to mine cryptocurrency. Since the code runs in the background, victims may not be aware that their device is being used for mining.
File-Based Cryptojacking: In this type of cryptojacking, the attacker infects a victim’s device by tricking them into downloading and running a malicious file. This file contains the mining script, which then uses the device’s processing power to mine cryptocurrency. File-based cryptojacking can be more difficult to detect and remove compared to browser-based cryptojacking.

Both types of cryptojacking can be harmful to victims, as they can lead to increased electricity bills, reduced device performance, and in some cases, permanent damage to hardware due to overheating.

Impact of Cryptojacking

Cryptojacking can have a significant impact on individuals, organizations, and even society as a whole. One of the primary impacts is the degradation of device performance, as cryptojacking malware consumes a considerable amount of processing power and resources. This can lead to slower device performance, increased electricity consumption, and higher utility bills for affected users.

Furthermore, since cryptojacking often goes undetected for long periods, it can cause prolonged damage to hardware due to overheating and overuse. From a financial standpoint, cryptojacking can result in substantial losses for organizations, both in terms of increased energy costs and potential downtime caused by compromised devices.

Moreover, cryptojacking can contribute to the centralization of cryptocurrency mining, as attackers harness the collective processing power of multiple devices to mine cryptocurrency, leading to a more concentrated distribution of mining power. This centralization can have broader implications for the cryptocurrency ecosystem, potentially impacting its decentralization and security.

Techniques Used in Cryptojacking

Cryptojacking attackers use various techniques to infect devices and mine cryptocurrency without the owner’s consent. Some common techniques include:

➥ Malicious Links and Websites: Attackers may send phishing emails with links to websites that contain cryptojacking code. Clicking on these links or visiting the websites can infect the victim’s device.

➥ Malvertising: Malicious advertising, or malvertising, involves placing malicious code in online ads. When users click on these ads, their devices can become infected with cryptojacking scripts.

➥ Watering Hole Attacks: In a watering hole attack, attackers compromise websites that are likely to be visited by their target victims. They then inject cryptojacking code into these websites, infecting visitors’ devices.

➥ Drive-by Downloads: Attackers can use vulnerabilities in browsers or browser plugins to download and execute cryptojacking scripts on the victim’s device without their knowledge.

➥ Infectious Files: Attackers can distribute infected files through email attachments or file-sharing services. When the victim downloads and opens these files, their device becomes infected with cryptojacking software.

➥ Cryptojacking Kits: Some attackers use ready-made cryptojacking kits that contain all the necessary tools and scripts to infect devices and mine cryptocurrency. These kits are often available on the dark web.

To protect against cryptojacking, users should keep their software up to date, use reputable antivirus software, and be cautious when clicking on links or downloading files from unknown sources.

Common Cryptojacking Methods in 2024

In 2024, cryptojacking methods have become more sophisticated, reflecting the ongoing arms race between cybercriminals and cybersecurity experts. One common method is the use of malicious software distributed through phishing emails or malicious websites. These malware variants can infect a victim’s device and use its processing power to mine cryptocurrency without their knowledge.

Another prevalent technique is web-based cryptojacking, where attackers inject malicious scripts into legitimate websites or online ads. When users visit these compromised sites or view the infected ads, their devices are enlisted into a crypto mining botnet. Additionally, attackers may exploit vulnerabilities in software or operating systems to gain unauthorized access to devices and install cryptojacking malware.

As mobile devices become more popular, mobile cryptojacking has also emerged as a threat, with attackers developing malware specifically designed to mine cryptocurrency on smartphones and tablets. To protect against these methods, users should be cautious of unsolicited emails, avoid clicking on suspicious links or ads, and regularly update their software and security settings.

Detection and Prevention of Cryptojacking

Detection and prevention of cryptojacking can be challenging, but there are several steps users and organizations can take to protect against it:

Detection:

Antivirus Software: Use reputable antivirus software that includes cryptojacking detection features.
Browser Extensions: Install browser extensions that block cryptocurrency mining scripts, such as NoCoin or MinerBlock.
Monitor CPU Usage: Keep an eye on your device’s CPU usage. A sudden increase in usage could indicate cryptojacking activity.
Network Traffic Analysis: Use network monitoring tools to detect unusual network traffic patterns that may indicate cryptojacking.

Prevention:

Update Software: Keep your operating system, web browser, and plugins up to date to protect against known vulnerabilities.
Use Ad Blockers: Ad blockers can prevent malicious ads from running cryptojacking scripts.
Educate Users: Teach users about the risks of clicking on links or downloading files from unknown sources.
Use Content Security Policy (CSP): Implement CSP headers on your website to prevent the execution of unauthorized scripts.
Employ Intrusion Detection Systems (IDS): IDS can help detect and block suspicious network activity associated with cryptojacking.

Blocklist Cryptocurrency Mining Domains: Use firewalls or DNS services to block access to known cryptocurrency mining domains.

Enable Firewall: Enable your firewall to block outbound connections to known mining pools.
Use Captchas: Implement captchas on websites to prevent automated scripts from running cryptojacking code.

Use Endpoint Detection and Response (EDR): EDR solutions can help detect and respond to cryptojacking attempts on individual devices.

By combining these detection and prevention measures, users and organizations can significantly reduce the risk of falling victim to cryptojacking.

Legal and Ethical Issues Surrounding Cryptojacking

The legal and ethical issues surrounding cryptojacking are complex and multifaceted. From a legal perspective, cryptojacking is considered illegal in many jurisdictions as it involves unauthorized access to computing resources and data. Victims of cryptojacking can pursue legal action against perpetrators for damages, theft of electricity, and violation of privacy laws.

However, enforcing these laws can be challenging due to the anonymous nature of cryptocurrencies and the global nature of cybercrime. Ethically, cryptojacking raises questions about consent and fairness. Users are often unaware that their devices are being used for mining, leading to a violation of their privacy and property rights. Additionally, cryptojacking contributes to the centralization of mining power, as attackers can control a large number of devices to mine cryptocurrency, potentially undermining the decentralized nature of cryptocurrencies.

Overall, addressing the legal and ethical issues surrounding cryptojacking requires a combination of legal frameworks, technological solutions, and ethical considerations to protect users and uphold the principles of fairness and consent.

Conclusion

In conclusion, cryptojacking remains a significant threat in 2024, as cybercriminals continue to exploit unsuspecting users’ devices for cryptocurrency mining. The evolution of this malicious practice underscores the importance of maintaining robust cybersecurity measures. As attackers employ increasingly sophisticated tactics, such as fileless malware and targeted attacks, users must remain vigilant and implement effective security measures. This includes regularly updating software, using reputable antivirus programs, and being cautious of suspicious links and downloads.

Furthermore, organizations should educate their employees about the risks of cryptojacking and implement network monitoring tools to detect and mitigate such attacks. By staying informed and proactive, individuals and organizations can better protect themselves against the threat of cryptojacking and other forms of cybercrime in 2024 and beyond.

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