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Cryptojacking – what is it and how can you prevent it?

With cryptocurrencies more popular than ever before, cybercriminals have come up with a new revenue model that allows them to extract a lot of money from their wallet. We call this phenomenon cryptojacking. But what exactly is cryptojacking and how can you prevent it? That’s what we’re going to talk about today!

What is Cryptocurrency

Does the name Bitcoin or Ethereum mean anything to you? These are two crypto coins that millions of people have added to their crypto wallets.
Cryptocurrencies are stored in a large network of computers that perform cryptographic calculations 24/7. These cryptographic calculations ensure that the digital currency cannot be changed and is also safely stored. One thing is certain, the cryptocurrencies stored within this network cannot be broken and more importantly, cannot be stolen.

Each cryptocurrency stored within the network has its own password. Only with this password will you get access to your cryptocurrency as the owner. For example, if you want to make a transaction with your Bitcoin, which is increasingly possible these days, you enter your password and you can pay.

Cryptocurrency can be compared to ‘real’ money. The coins do not ring in your wallet but are stored in a computer network.

This is how crypto mining works

Cryptocurrency is stored on the blockchain, a database in which all transactions are recorded. We call this technology blockchain technology.

If “normal” money is deposited into your account, only you can see those amounts. No one else has access to this information. Cryptocurrency works a little differently. All registered transactions on the blockchain are visible to everyone. So it’s no secret how much cryptocurrency you own!

What is striking about crypto transactions is that they crypto transaction does not go through a bank, but through a computer network. We call the computers responsible for crypto transactions miners.

A crypto miner converts crypto transactions into (data) blocks, which are then added to the blockchain. This only happens if the transaction has been properly hashed. To do this, the computer has to solve all kinds of complex mathematical calculations.

Cryptominers do not work for free. They are paid with cryptocurrency. You will not receive cryptocurrency for every transaction. You will only be rewarded with a large number of transactions. You don’t have to do anything yourself for this. While you are lounging on the couch, your computer works overtime day and night to generate income. Nice and easy!

Cryptojacking – what is it and how does it work?

The more crypto miners crack the computer brain to solve complicated mathematical calculations, the less a crypto miner can earn from this hard work. A limited number of cryptocurrencies are released to crypto miners.

Nowadays, to earn nice pocket money from the work of your computer, you can no longer get started with a simple laptop. For that, you have to buy well-developed hardware and let this hardware be incredibly expensive. Hackers have come up with the perfect solution to this problem, which we know as cryptojacking.

Cryptojacking involves hackers hijacking thousands of other people’s computers to do the work for them without the burden on them. You often do not realize that a hacker is carrying out a cunning plan with your computer because this process takes place in the background.

Hackers can make huge profits by putting your computer, and those of others, to work, while your energy bill skyrockets because of all the work your computer does. We can say that cryptojackers are criminal crypto miners.

Different ways of cryptojacking

A hacker can cryptojack in several ways, two to be exact. This increases the hacker’s chance of success, while you as a victim have to take even more measures to protect yourself against cryptojacking.

  • Cryptomining scripts in the browser First of all, a hacker can cryptojack by placing a piece of malicious code on a web page. Once the website loads, the piece of code will run by itself. From now on, your device will act as a crypto miner without your knowledge as long as the web browser is open.
  • Crypto-malware Malware is a collective term for various types of malicious software. Crypto malware is also malware. Hackers have several tricks to install crypto-malware on your computer. For example, hackers send a phishing email that contains a link or file. If you open the link or file, crypto-malware will be installed on your computer and your computer will act as a crypto miner.

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Recognise cryptojacking

It is difficult to recognize man cryptojacking. The process is often hidden on your computer or looks like an innocent activity. Initially, nothing to worry about. But nothing is less true.

These are three characteristics by which you can recognize cryptojacking:

  • Your computer is constantly overheating or your computer keeps the fan on all the time.
  • Your computer becomes a lot slower.
  • Your computer’s CPU usage goes up. Often it even seems as if another program on your computer is consuming all the power.

Detect or prevent crypto-malware

It is virtually impossible to protect yourself so well that you never fall victim to cryptojacking. Still, you can do a lot to make the change as small as possible. Here are some tips to keep cryptojackers out:

  • Be careful on the internet The internet is full of suspicious links and documents. Consider whether a link or document is trustworthy before you click on it. You never know if hackers have linked crypto-malware to a link or document.
  • Beware of phishing tricks Phishing is a common term in the world of cyber security. A hacker can achieve a lot with one simple trick.
  • Use a malware detection program With a malware detection program you can quickly discover that your computer is infected with malware. It may not have been possible to stop the malware, of course, you want to discover the problem quickly to prevent bigger problems.
  • Block JavaScript in your browser By blocking JavaScript you prevent your computer from being infected with crypto-malware. Unfortunately, this effective strategy does cause some other features to stop working.

Detect crypto-malware with GOOSE VPN

Although you do your utmost to keep crypto-malware out, you can always be the unlucky one who still has an infection on his laptop. Fortunately, GOOSE VPN has a Cyber Alarm that monitors all cyber threats on your computer.

GOOSE VPN is a provider of VPN connections. A VPN is a secure connection between you and the internet that ensures that hackers cannot watch your internet traffic. With a VPN you can always surf the internet completely anonymously.

To detect cryptojacking you can activate the GOOSE VPN Cyber Alarm. This is an extra function that you can add to your VPN connection. The Cyber Alarm monitors your internet traffic 24/7 for cyber threats, and therefore also for crypto-malware. As soon as the alarm detects crypto-malware, you will be notified. This way you can immediately take action!

Register with GOOSE VPN

Do you want to hear a bell ring as soon as possible if your computer is infected with malware? Register now with GOOSE VPN with a 30-day money-back guarantee and also add the Cyber Alarm to your subscription. You are now guaranteed to receive a notification if it is crypto-malware on your computer!

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