![]() PowerGhost was found to have infected the servers of entire corporations, using energy at scale and throttling activity.Ĭrypto-jackers target all industries. In July, security researchers at Kaspersky Lab discovered a miner focused primarily on corporate networks. Read more: Bitcoin miners losing real money at current prices, says Morgan StanleyĪnd it isn’t just desktop devices and laptops that are at risk: everything from smartphones and tablets to entire back-end systems can be compromised. ![]() The Rakhni Trojan, for example, delivers either ransomware or crypto-mining software to devices after finding its way into systems. More, the vulnerabilities exploited by crypto-jackers can be used to introduce malware, ransomeware, and more. Hot idea?Ĭrypto-jacking is a lucrative business because it foists those costs onto victims, eating up processors’ MIPs, slowing down internal and customer-facing operations, and invisibly ramping up energy bills. Read more: Qarnot QC1: An IoT heater that mines for cryptocurrency.In short, crypto-mining costs real money, which makes it harder for miners and traders to profit from Bitcoin, Monero, and other digital coins. But that hardware is expensive to buy and to run, pushing up the cost per watt of mining. So why do criminals do it? The answer’s simple: crypto-mining is a computing-intensive task, which is why enterprise IT companies like NVIDIA make high-end GPUs to do the number-crunching. In February this year, government websites in the US and UK, including the Information Commissioner’s Office, were hit by crypto-mining attacks, undermining confidence in public sector security. The poll – carried out in May among organisations with more than 250 employees – found that nearly 60 percent of respondents had detected crypto-mining attacks at some point, with 80 percent of those occurring in the last six months. The problem is wide-reaching: figures released in August by Citrix showed that 30 percent of UK enterprises had been hit by crypto-mining incidents within a 30-day period. But what can you do about it? Internet of Business saysĬrypto-jacking – in which a hacker uses a firm’s computing power to mine cryptocurrencies – is becoming a major challenge for IT and business leaders. The impact is much greater than firms might think, warns Kate O’Flaherty. Cyber criminals are increasingly hijacking computing power to mine cryptocurrencies.
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