Crypto-Currency Mining Malware

Cryptocurrency mining malware is also called Crypto-mining malware or Crypto-jacking. Cryptocurrency is a digital currency (not in actual form) that is used for transactions or exchanges.

What is Cryptocurrency mining?

It is a process in which transactions through different cryptocurrencies are verified and added to the blockchain digital ledger. After every transaction using cryptocurrency, a miner has to verify the data and update it to the blockchain.

Key Points

  • Crypto-currency mining malware is a term that is used to refer to software programs that are developed to take control of a computer’s resources for mining cryptocurrency, without the permission of the user.
  • The software is designed to stay completely hidden from the user.
  • This is used by cybercriminals whereby high-speed computers, smartphones, and electronic devices are hacked to generate revenue from cryptocurrency mining.
  • A recent report by blocking firm AdGuard has revealed that unauthorized mining activities are being carried out in more than 500 million devices without the actual user realizing it.
  • These users are either affected by the malware or visit websites running on cryptomining software in the backend with the permission of the users.
  • Dubbed Loapi by Kaspersky Labs is a powerful cryptomining malware program that has been designed to hijack the processor of an android smartphone for cryptocurrency mining. It can also cause physical damage to the smartphone.

Microsoft reveals Vietnamese government-backed hackers using cryptocurrency-mining malware

American Technology Company, Microsoft has revealed that a group of hackers backed by the Vietnamese government- “Bismuth” are using cryptocurrency-mining malware. As per the report, Bismuth is active since 2012. Bismuth is widely known as OceanLotus and APT32. The attacks by Bismuth include normal to advanced techniques. As per the report by Microsoft, the campaigns of Bismuth from July to August 2020 included attacks through Monero coin miners.

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