What is Cryptojacking And How Does it Work?

Hi, I'm going to discuss about a new topic on crypto and that is Cryptojacking. This is an illegal activity and you should all know about it, hope my writing will help you to understand it properly.

Cryptojacking is the illegal act of unauthorised individuals or groups gaining control of computer systems, websites, or internet-connected devices in order to mine cryptocurrencies without the owners' knowledge or agreement. This illegal activity entails exploiting weaknesses in the targeted systems and deploying malicious software that mines digital currency using the hacked devices' processing power and energy resources.

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Cybercriminals strive to produce bitcoins for their own financial advantage by utilising the computational power of several hijacked devices, while invisibly burdening victims with diminished system performance, higher energy consumption, and significant security threats.

Cryptojacking functions by compromising computer systems, websites, or internet-connected devices in order to mine bitcoins. Here's a step-by-step breakdown of how cryptojacking works:-

Initial Compromise: Cybercriminals acquire unauthorised access to a target system by exploiting software flaws, utilising phishing tactics, or injecting malicious code into webpages or advertisements.

Payload Delivery: The cryptojacking payload is delivered to the compromised system by the attackers. This payload is typically malicious software in the form of a virus, a malware, or a browser-based cryptocurrency mining script.

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Silent Execution: Once the payload is properly released, it runs silently in the background without the device owner's awareness or approval. In the case of browser-based cryptojacking, the script is executed within the victim's web browser while they are visiting a hacked website or clicking on a malicious link.

Resource Utilization: The cryptojacking script or malware mines cryptocurrencies by utilising the infected device's computing power and electricity resources. It employs the CPU (Central Processing Unit) or GPU (Graphics Processing Unit) of the device to do the difficult computations required for cryptocurrency mining.

Mining Operations: The hacked device joins a broader network of hijacked devices to form a botnet. The botnet allows fraudsters to combine processing power from several devices, dramatically improving their mining capacity and chances of successful cryptocurrency mining.

Cryptocurrency Rewards: The compromised machines provide processing power to the mining process, and the cybercriminals are rewarded in the form of newly created cryptocurrencies. These payouts are deposited into the attackers' digital wallets, letting them to profit from the illegal mining operation.

Concealment and Persistence: Cryptojackers use a variety of tactics to remain undiscovered and maximise their mining operation. This includes using obfuscated scripts, changing mining pools on a regular basis, or employing anti-detection procedures to avoid detection and remain hidden for as long as possible.

In simple words, Cryptojacking means mining of crypto, but witha illegal method where the miners hack multiple devices of different users, then use there power for mining. They first try to hack the device by deploying malicious software to it, after that the software silently works for them and mine crypto by consuming the power of the hacked device. So, it will be a concerning thing and normal users should aware of it, and it will be avoided if you don't visit any malicious site without proper SSL certification or if you don't use any software or app downloaded from any malicious site rather than Play Store or App Store.