Cryptocurrency is all the rage right now. You can’t go anywhere without seeing it online, mentioned in the news, or discussed in groups.
With large sums of money exchanging hands daily and news outlets reporting that Bitcoin prices surged over 1,400% during 2017, it’s no surprise that people have been drawn toward the virtual currency space.
Even in spite of recent shifts and volatility in their value, most cryptocurrencies continue to be worth quite a bit, which makes them a target for cybercriminals.
How safe are your crypto coins? Are you or your computer at you at risk of being compromised by cryptojacking?
Given the current value of the major digital currencies, such as Bitcoin, Ethereum, and Ripple, and the fact that this entire financial market exists entirely in the digital world, it’s obvious as to why we have seen an exponential rise in attacks focused on crytpocurrencies.
In fact, FortiGuard Labs just released our latest Quarterly Threat Landscape report for Q4 of 2017, and in it we identified the serious and growing concern of cybercriminals targeting cryptocurrency using attack tools and techniques referred to as cryptojacking.
Cryptojacking comes in several different forms. A malicious infection design to steal CPU resources to perform cryptomining on behalf of a criminal enterprise can cause frustrating effects, such as system crashes, lag time and poor network performance/ But more serious attacks can include such things as ransomware and data and coin theft.
Knowing each type of potential threat will help you be more aware of these kinds of attacks so you can be better prepared.
The growing popularity of cryptocurrency is posing a real threat to both the average user and large business alike, even if you don’t actively buy, sell, or use cryptocurrencies.
Despite cryptocurrency being around since the 1980s, it is a relatively new phenomenon for the general public and this can lead to a misunderstanding of how to be safe when using it.
So it’s best to be prepared.
Start by ensuring that your connected systems are being patched or protected. Then make sure that you are running security solutions designed to detect both known and unknown threats. At the same time, educate yourself and your employees on issues such as phishing and safe browsing. Next, never load personal information onto downloaded applications unless you can verify the manufacturer and source. And finally, make sure that you are regularly backing up your systems and storing those backups off network to ensure you can quickly recover from a ransomware attack.
To find out more, download our full Quarterly Threat Landscape report for Q4 of 2017.