Check Point Cyber Security Report: Cryptojacking-Related Activities are on the Decline

Hackers seem to be moving from attacking individual users to targeting enterprise and cloud systems — since the trade off appears to be far more lucrative and sustainable in the long run for them.

  • Despite there being a steep decline in remote mining activities across the globe, it is still the most popular hacking method used by nefarious third-party actors today.
  • Last year, a hacker was able to earn a whopping $3 million by planting the XMRig malware on Jenkins’ open source automation servers.

In its most basic sense, Cryptojacking can be thought of as a way by which hackers can steal a person’s computing power (primarily through the use of malware). In this regard, it is worth pointing out that as per an all new report released by Check Point recently, cryptojacking is still the most popular way for hackers to target people online.

All through H1 2018, crypto jacking incidents had affected nearly 42% of all digital currency related firms across the globe. However, this number dropped to around the 25% mark this year.

Many researchers believe that the fall in cryptojacking activities (across the globe) can be attributed to the shutdown of Coinhive earlier this year. For those of our readers who are not aware of Coinhive, it was essentially a service that website owners could use to generate cash from visitors without the use of ads.

However, soon after the platform’s launch, it began to be abused by hackers, who started to exploit the service by converting users’ browsers into crypto-mining machines. Since Coinhive’s fall, the use of crypto mining malware has decreased by a massive margin.

Maya Horowitz — a cyber security expert — recently stated in an interview that while nefarious crypto related activities had reduced to a large degree, hackers are now becoming smarter and starting to change their tactics.

For example, cyber miscreants are now using projects like XMRig and Jsecoin in order to target enterprise and cloud computing resources.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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