Tag: cryptojacking

Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool

Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool

Information Security
Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool Cryptojacking cyberattack is now the new favorite money-making tool by cybercriminals and computers of organizations lagging behind in cybersecurity are at risk of this type of cyberattack. A recent report from McAfee Labsshowed that in the 1stquarter of 2018, cryptocurrency mining malware grew to more than 2.9 million or 629% from nearly 400,000 in the 4thquarter of 2017. What is Cryptojacking? Cryptojacking is the act of illicitly installing a cryptomining software on the victim’s computer. A cryptocurrency mining software, on its own, isn’t illegal. This software harnesses the power of a computer as a means to release a new digital coin and as a means to verify transactions. In principle, owners of the computers used for cryptocurrency mining have to be compensated. In cryptojacking,…
Read More
What is Cryptojacking and How to Prevent This Cyberattack

What is Cryptojacking and How to Prevent This Cyberattack

Information Security, Security
What is Cryptojacking: How do you prevent this Cyberattack? Tesla is the latest company that joins the growing list of companies that have been hit by cryptojacking – a form of cyberattack in which a hacker uses the computing power of a target to mine cryptocurrency. According to RedLock, the company that revealed the Tesla hack, the attacker was able to access Tesla’s cloud account and used it to mine Monero, a cryptocurrency similar to Bitcoin. Both Monero and Bitcoin need to be mined. Cryptocurrency mining is a process by which transactions are verified. It’s also a process by which a new crypto coin is released. Miners, those who allow their computers to be used for cryptocurrency mining, are compensated for the computer and electricity usage. A spokesperson of Tesla…
Read More

Tag: cryptojacking

Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool

Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool

Information Security
Cryptojacking: Cyberattackers’ New Favorite Money-Making Tool Cryptojacking cyberattack is now the new favorite money-making tool by cybercriminals and computers of organizations lagging behind in cybersecurity are at risk of this type of cyberattack. A recent report from McAfee Labsshowed that in the 1stquarter of 2018, cryptocurrency mining malware grew to more than 2.9 million or 629% from nearly 400,000 in the 4thquarter of 2017. What is Cryptojacking? Cryptojacking is the act of illicitly installing a cryptomining software on the victim’s computer. A cryptocurrency mining software, on its own, isn’t illegal. This software harnesses the power of a computer as a means to release a new digital coin and as a means to verify transactions. In principle, owners of the computers used for cryptocurrency mining have to be compensated. In cryptojacking,…
Read More
What is Cryptojacking and How to Prevent This Cyberattack

What is Cryptojacking and How to Prevent This Cyberattack

Information Security, Security
What is Cryptojacking: How do you prevent this Cyberattack? Tesla is the latest company that joins the growing list of companies that have been hit by cryptojacking – a form of cyberattack in which a hacker uses the computing power of a target to mine cryptocurrency. According to RedLock, the company that revealed the Tesla hack, the attacker was able to access Tesla’s cloud account and used it to mine Monero, a cryptocurrency similar to Bitcoin. Both Monero and Bitcoin need to be mined. Cryptocurrency mining is a process by which transactions are verified. It’s also a process by which a new crypto coin is released. Miners, those who allow their computers to be used for cryptocurrency mining, are compensated for the computer and electricity usage. A spokesperson of Tesla…
Read More