What is Crypto Jacking?

According to recent report, Crypto Jacking has increased to a record high in 2022, even though the number of digital assets has decreased. In the first half of 2022, the number of global crypto jacking has increased by approximately USD 66 million as compared to 2021.

About Crypto Jacking:

It is a type of cybercrime, in which cryptocurrencies are mined through hacked computer. Due to this, cyber-criminals are developing and distributing crypto mining malware. When the malware gets loaded onto a compromised device, it mints new coins. However, it creates vulnerabilities in the web browsers and extensions of browser.

  • Generally, cybercriminals are using Log4j vulnerability to attack the cloud.
  • Crypto jacking is a lower-risk attack, as compared to ransomware or any other sort of cybercrimes.
  • Financial industry has suffered multiple crypto jacking attacks. Retail is the second-most vulnerable industry.
  • In the crypto jacking; victims are not aware that their computers or networks have already been compromised.

Recent research has revealed that; attackers have changed their preferred targets in last some months. It has moved from the government, education and healthcare sectors towards retail and financial sectors. Crypto jacking attacks have increased by 200% in the financial sector. Attacks have turned lucrative with recent advancements in technology. Thus, investors are required to understand the volatility of crypto coins and ensure that they don’t fall prey to such scams.




Latest E-Books