Mining takes a lot of space and computing power. Some scam developers chose to use other’s computers for mining the digital currency. This phenomenon is called cryptojacking, and the recent rise of crypto popularity is posing a threat to the resurfacing of this trend. The first reported incidents of cryptojacking were reported in the 2017-2018 digital market bull run. The scammers were sending malware to the users disguised as legitimate software.
The biggest mining heist was operated on the Steam Games platform. The Steam Games is a gaming dashboard where users can buy, sell, create, promote, debate, and interact with other gamers. One merchant on the website introduced a game called Abstractism that targeted unsuspecting victims. Another way of hijacking computers is through misleading flash player installations.
How the Gaming and Other Crypto Jacking Malware Work?
The people who were downloading Abstractism would also install a malware mining program without their knowledge. The malware would use the victim’s computer resources to mine Monero digital coins and send them to unknown wallet addresses. The scam game developers also encouraged the gamers to stay online as much as possible. The game simulator would grant the gamers with upgrades and items based on the time that they were spending online.
These drops were retracted every Friday, and the players were induced to repeat the cycle. Eventually, the admin of the website, Valve developers, retracted the game and banned Okalo Union from the platform following the complaints received by users. Similarly, there are countless pop-ups on malicious and websites with popups for installing flash players. These links contain malware that scammers use to mine Monero (XMR) without users’ knowledge stealthily.
Microsoft and Intel Introduce new System to Fight off Malicious Crypto Mining
Intel and Microsoft cybersecurity teams are working together to create the ultimate solution against cryptocurrency mining malware. The summation of two enterprise-level cybersecurity solutions is capable of detecting malware or malicious mining application before it is installed on the system.
Intel VP, Michael Nordquist, told the media that this anti-malware software is a new milestone in the cybersecurity market and for localized Server Message Block (SMB) of Microsoft. The TDT would alert the users in the middle of an ongoing suspicious software download operation with the help of Windows Security Notification and freeze the program. A survey conducted by Avira antivirus shows that cryptojacking incidents have seen a spike since the last quarter of 2020.