Despite the Growing Prices: Cryptojacking Cases in 2020 Decline Compared to 2019 (Report)

Although the global interest in cryptocurrencies have risen in 2020 compared to 2019, the illicit cases of cryptojacking have actually declined.

Despite the Growing Prices: Cryptojacking Cases in 2020 Decline Compared to 2019 (Report)
Last year turned out to be a record-breaking one in terms of blocked computer cryptojacking attempts for cryptocurrency mining, reported the Russian cybersecurity giant Kaspersky. Although the firm noted it had stopped millions of cases, it also warned people about the potential threats. Cryptojacking in 2020 When an attacker gains unauthorized access to a computer or mobile device to mine (or mint) cryptocurrencies is now known as cryptojacking. It typically transpires when the bad actor plants a crypto-mining malware, which uses just enough processing power from the infected device to remain unnoticed for as long as possible. However, the Russian cybersecurity company Kaspersky has followed this malicious activity for the past few years in an attempt to block it, according to its most recent report. It outlined the cyber threats that occurred in 2020. Somewhat promisingly, the firm noted that the number of such attacks had decreased last year from over 13 million to just shy of nine million. This comes despite the impressive price growth in the industry, which caught the attention of investors and also bad actors. Although they have looked for a way to enter the space without using their own energy, Kaspersky said it had blocked the majority of the detected attempts. “After all, cybercriminals have long realized that infecting servers is more profitable than mining on home users’ computers, so small and medium businesses should take this silent threat seriously.” – commented Kaspersky’s SEA general manager Yeo Siang Tiong. Asia, Beware! The report further outlined who are the most threatened and attacked regions. Interestingly, the two countries with the most victim come from Asia – Indonesia and Vietnam. What’s even more worryingly is that they occupied the first two adverse spots last year as well. On a slightly more positive note, their percentages have declined a bit. 80% of the cryptojacking attacks in 2019 took place in either of the two nations, while the share fell to 71% in 2020. Kaspersky’s researchers pointed out the COVID-19 pandemic as a catalyst and warned business owners, especially those who have relocated to their home environment, to be vigilant of untypically high electric bills. “So, if you are a business owner and your staff are working remotely because of the pandemic, yet you find office power bill unusually high, check your IT back-end. There may be crypto miners using your business resources are your expense.” – he concluded.