McAfee’s Threats Report Says Crypto Coin Miner Malware Up 629% in 2018

Cryptojacking Attacks Registered an Increase of 629% During the First Quarter of 2018 According to McAfee’s Report

According to a new report that has been published by the cyber security firm McAfee Labs shows that cryptojacking attacks have grown 629% during the first quarter of 2018.

As per the report uploaded on June the 27th, 2.9 million samples of coin miner malware have been detected. This is a 629% increase from over 400,000 registered during the previous quarter.

Cryptojacking activities use the processing power of a computer to mine virtual currencies without the visitor of a website knowing about it.

The Report Reads As follows:

“This suggests that cybercriminals are arming to the prospect of monetizing infections of user systems without prompting victims to make payments, as is the case with popular ransomware schemes. Compared with well-established cybercrime activities such as data theft and ransomware, cryptojacking is simpler, more straightforward, and less risky.”

Criminals are able to infect ‘millions of systems’ and monetize their attacks by injecting a mining malware with no middleman and almost no effort.

One of the most famous programs is known as Coinhive, which allows individuals to mine Monero (XMR) using a web browser. This was proposed as an alternative for online advertising and in order to make websites more user-friendly for visitors. Indeed, a report that has been published earlier this month, found that over 5 percent of all the XMR in circulation have been mined using cryptojacking attacks.

In the past several websites have been affected by these attacks, including YouTube and other governmental offices. Indeed, the Japanese government arrested 16 individuals that were involved in cryptojacking activities.

Another important thing to mention is that, also this month, a county government website for Khabarovsk, Russia, was hacked with mining software. Those users visiting the page (600 visitors a day) have been affected by this software.

In February, several employees at the All-Russian Scientific Research Institute for Experimental Physics, were using their workplace for mining cryptocurrencies with a supercomputer.

The most important web browsers have already implemented measures that allow users to block crypto mining malwares. There are some extensions for those users that want greater security.