The Rise of Cryptojacking: How Cybercriminals Are Exploiting Cryptocurrency for Illicit Gains

    skycentral.co.uk | The Rise of Cryptojacking: How Cybercriminals Are Exploiting Cryptocurrency for Illicit Gains

    The Rise of <span class="glossary-tooltip glossary-term-351"><span class="glossary-link"><a href="https://skycentral.co.uk/glossary/cryptojacking/">Cryptojacking</a></span><span class="hidden glossary-tooltip-content clearfix"><span class="glossary-tooltip-text">Cryptojacking: The unauthorized use of someone else's comput...</span></span></span>

    The Rise of Cryptojacking: How Cybercriminals Are Exploiting Cryptocurrency for Illicit Gains


    Cryptojacking, a term coined from cryptocurrency and hijacking, refers to the unauthorized use of someone’s computer or device to mine cryptocurrencies. While cryptocurrencies like Bitcoin and Ethereum have gained mainstream popularity, cybercriminals have found new ways to exploit them for their own illicit gains.

    How Does Cryptojacking Work?

    Cryptojacking typically involves the use of malware or malicious code that is installed on a victim’s computer, often through a phishing email or infected website. This code runs in the background, without the user’s knowledge, and utilizes the computer’s processing power to mine cryptocurrencies.

    Types of Cryptojacking

    There are two main types of cryptojacking:

    1. Browser-based Cryptojacking: This form of cryptojacking occurs when a website utilizes JavaScript code to mine cryptocurrencies using the visitor’s browser and device resources.
    2. Malware-based Cryptojacking: In this type, malware is installed on the victim’s computer or device, allowing the attacker to mine cryptocurrencies without the user’s consent or knowledge.

    The Cryptojacking Boom

    The rise of cryptojacking can be attributed to several factors:

    1. Anonymity: Cryptocurrencies provide a level of anonymity to cybercriminals, making it difficult to trace their illicit activities.
    2. Profitability: Cryptocurrencies can be highly profitable, given their increasing value and potential for significant returns.
    3. Lower Risk: Compared to other cybercrimes like ransomware or data breaches, cryptojacking poses lower risks for cybercriminals, as they can operate covertly without attracting immediate attention.

    The Impact of Cryptojacking

    Cryptojacking can have several consequences:

    • Reduced Performance: When a device is cryptojacked, its resources are diverted towards mining, resulting in slower performance, increased power consumption, and overheating.
    • Financial Losses: Victims may face increased electricity costs due to higher power consumption and reduced device lifespan.
    • Security Risks: While cryptojacking itself may not directly compromise personal or sensitive data, the malware used can pave the way for further attacks and unauthorized access to the system.

    Preventing and Detecting Cryptojacking

    To protect against cryptojacking:

    1. Keep Software Updated: Regularly update operating systems, browsers, and security software to patch vulnerabilities that cybercriminals may exploit.
    2. Deploy Web Filters: Organizations can use web filters to block access to known cryptojacking websites and prevent browser-based cryptojacking.
    3. Use Anti-Malware Solutions: Install reputable anti-malware solutions to detect and remove cryptojacking malware.


    The rise of cryptojacking highlights the evolving tactics of cybercriminals in exploiting cryptocurrencies for their illicit gains. As awareness about this threat increases, individuals and organizations must remain vigilant and take proactive measures to protect themselves from falling victim to this growing menace.