Did you know that your device or networks could be being used in cyber attacks without you realizing it? The strategy known as cryptocurrency mining scam (cryptojacking) is a strategy used by cybercriminals to mine cybercurrencies without the device owner noticing . To do this, they use the processing power of devices and their network to generate cryptocurrency and make a profit.
As it is a cyber scam, this threat is implemented without the user's permission, through the installation of malicious software. This software can reach the user in different ways, such as phishing emails, fake advertisements or corrupted files that are sent through messaging platforms.
For this reason, it is essential that your company implements an effective security strategy that helps block this threat and prevent the organization's valuable resources from being allocated to cyber attacks.
How cryptocurrency mining works
Cryptocurrency mining has gained a lot of prominence in recent years due to the immense value that these coins have obtained on the market. To understand how this process works, we first need to understand how cryptocurrency works.
The entire cryptocurrency mining process is related to blockchain, a standard system for cryptoassets. This system is made up of parts of code connected through the Network. These blocks contain information that is checked for veracity and authenticity.
While conventional currency is printed on paper, cryptocurrency is built through the mining process. Thus, mining consists of the process of validating and including transactions within the blockchain system.
Understand more about this process:
With this, we can understand that cryptocurrency miners work as data validating agents, without the intervention of a regulatory body to confirm the information. These mining agents look for cryptocurrencies of different types , find out more about the subject here.
Once this information is validated, transactions can be released for effective completion, and the miner responsible for this validation receives the cryptocurrencies that were stored. This entire process is only possible through a few factors, as we will see below:
- Digital wallet for storing, receiving and transferring cryptocurrencies;
- Mining hardware to be able to calculate the information required by the algorithms;
- Mining software so you can connect to the mining network and solve mathematical problems.
Through these three factors, the miner is able to validate and verify transactions on the decentralized cryptocurrency network.
Cryptojacking: how do cybercriminals use your company's resources?
Now that we understand how the cryptocurrency mining process works, it is easier to understand how this cyber scam can be implemented in your company. Cryptojacking consists of malicious software developed to mine cryptocurrencies without user authorization.
Through this software, the cybercriminal is able to use all the processing power of the infected device for their illegal mining process. Although it doesn't seem like a big problem, this cyber threat causes you to lose processing power on your company's devices without the financial return that cryptojacking can deliver to criminals.
In addition to using the devices' processing power for illegal mining, these cybercriminals can also use this malware as a ransomware , making your device and its data unavailable until a ransom amount is paid.
Even though it is a considerably invisible cyber scam, cryptojacking can harm and reduce the useful life of your devices , causing great losses for your company. For this reason, it is very important that your company establishes internet security that help block these threats and prevent your devices from being misused.
Growth of Cryptocurrency Mining Attacks
As it is a relatively new cyber attack, the numbers related to the cryptocurrency mining scam may seem small compared to other types. However, only in the third half of 2022 there was a 230% increase in attacks of this type.
Successful attacks can use infected equipment for months without the owner being aware, causing cybercriminals to make profits of up to US$40,000 per month. On the other hand, your company also ends up losing due to the unavailability of device processing, which can accompany the loss of profitability and productivity of your workers.
This report developed by Kaspersky also demonstrated that this malicious software is often hidden in pirated movies, games, music and programs , which are often inadvertently downloaded by users . Vulnerabilities present in unupdated software are also a major risk factor.
The tendency is for there to be substantial growth in this type of attack, causing increasing losses for companies. This growth highlights the need to use more effective security tools to block these threats and keep your devices protected.
What are the effects of the cryptocurrency mining scam?
In addition to harming the availability and processing power of your devices, cryptocurrency mining scams can also cause countless losses for your company. This threat can have a direct impact on cybersecurity , leading to substantial financial losses, data leakage and theft, loss of productivity, and much more.
It is also necessary to consider the impact of the General Data Protection Law in the face of this type of threat. Considering that this legislation brings the necessary paradigms and approaches to maintain the privacy of your information and assertive control of access to a company's system, the invasion caused by cryptojacking can also cause legal problems for your company.
In this sense, it is essential to keep an eye out for signs that your device is being used inappropriately, as we will see below:
- Monitoring the unexpected increase in CPU usage has the bandwidth used by your company;
- Monitoring network traffic through specific security software;
- Using a browser extension to detect mining scripts.
Assertive control and monitoring of your company's network resources are the first step to ensuring the detection of this type of attack. The sooner it is noticed by your IT team, the easier it will be to block this threat and avoid the damage caused by it.
How to block unauthorized cryptocurrency mining?
As we said previously, the key to detecting a cryptocurrency mining scam is monitoring your company's systems and resources. Through efficient tools, it is possible to ensure that all of your company's network and internet resources are being used in the best possible way by your employees, without diverting your processing power to illegal activities.
Find out how your company's cybersecurity is doing through this Lumiun test .
To help you, we have put together some essential tips to help you stay safe against cryptojacking:
Identify vulnerabilities
The first step is to determine the degree of exposure your company has to cyber threats . It is essential to have a complete understanding of the security features that are implemented by the organization and what the best strategies are to keep your data and devices protected.
To determine the threat vectors that could harm your business, you can perform a security test . This test will allow your team to understand the main flaws and areas for improvement within your organization's device networks.
Credential protection
It is very common for cybercriminals to use this type of vulnerability to gain access to your company's devices and install malicious software improperly. For this reason, it is essential that users pay attention to the credentials of their respective accounts.
In this sense, it is important that the company creates an internet access policy that delivers paradigms and protocols to be applied as a way of increasing the security of networks and devices. One of these protocols is the creation of more secure passwords for accessing company software and systems.
Cloud access restriction and access privilege configuration
We know that access to the cloud is one of the most used resources today, allowing secure file storage and access to software without the need for installation. For this reason, restricting access to the cloud is a fundamental step in increasing your company's security.
For this to be possible, it is necessary to study what access levels and which employees need to have to confidential documents and files , reducing vulnerabilities and preventing cybercriminals from having access to this type of information.
Monitoring
Monitoring your company's network resources is essential in the process of detecting cryptojacking. This type of cyber attack can be noticed through changes in CPU usage and also in your company's bandwidth.
Proper monitoring will allow you to block and mitigate damage in the face of scams of this type. To achieve this, it is essential to use reliable security software that has all the necessary tools to keep your company safer.
Furthermore, there are some precautions that can be implemented so that your employees can protect themselves from this type of cyber threat:
- Use of reliable Antivirus Software to check files and documents before they are actually opened;
- Using an ad blocker in the browser to block the execution of malicious advertisements that may improperly install cryptocurrency mining malware
- Keep all systems and software used by your company updated to effectively correct vulnerabilities and possible failures;
- Ensure that your employees only download files and software from trusted sources, avoiding third-party websites;
- Use internet access control software to prevent your employees from accessing untrustworthy pages or those that present cyber traps.
When dealing with modern cyber threats, it is essential to have the most complete resources on the market. These tools will be prepared to deal with these threats through equally modern resources such as artificial intelligence.
The Role of DNS Firewall in Blocking Cryptojacking
DNS Firewall is an evolution of conventional firewall processes, allowing your company to have more security, assertive control and continuous monitoring of access to your company's network. What differentiates this feature from the traditional firewall is that this tool can act in a more comprehensive way, preventing the loss, blocking and compromise of information.
Acting through the DNS (Domain Name System) layers, the DNS Firewall allows your company to more efficiently control access, isolate devices that are compromised, perform threat identification in an automated way, identifying threats with the help of artificial intelligence. In this way, it allows efficient monitoring of your company's digital resources and makes it difficult for cybercriminals to access your devices.
This means that with the help of this tool, your IT team will be able to identify threats more proactively and prevent threats like cryptojacking from causing problems for your organization. Considering that the essence of protection against this threat is monitoring, the DNS Firewall provides unique features to guarantee the protection of the digital environment.
DNS-based threats are extremely harmful and can negatively impact the smooth running of your company's activities. In addition to putting your networks and devices at risk, these attacks can also make your services unavailable to consumers. Understand more about these DNS-based threats .
Advantages of DNS Firewall for your company's security
Because it is such a complete resource, DNS Firewall can provide several benefits for your organization. Lumiun - based products and has complete and intuitive tools . See below its main benefits:
Allows greater control over your company’s internet
Currently, the vast majority of organizations depend on the internet to keep their activities and resources always available. Having more control over this tool is essential to maintain productivity and avoid possible problems caused by cyber threats.
Furthermore, internet access control will also allow for more complete management of the resources used by your employees, preventing them from using internet resources to access social networks , WhatsApp, YouTube, gaming and betting platforms, among others. The objective here is to ensure productivity and keep your employees away from cyber problems.
Through the web content filter, your company will be able to exercise more complete control over the accesses made and your organization's network traffic. In this way, it can be used to block access to malicious or inappropriate content and also block possible intrusions from malicious devices or websites.
Optimizes your security strategy
In addition to providing assertive monitoring of your company's resources, the DNS Firewall also allows you to block malicious links, prevent employees from accessing phishing websites , block the download of unknown links, and much more. Tools of this type, such as Lumiun DNS , also allow blocking access to advertisements considered malicious, violent and adult content that can also be harmful to the organization's devices.
The DNS Firewall also plays a prominent role against ransomware , being able to identify and mitigate these threats in a more efficient and complete way.
Increases your team's productivity
In addition to playing a complete role in your organization's security strategy, the DNS Firewall is also responsible for improving your team's productivity . By blocking harmful websites and pages considered inappropriate for the work environment, the DNS Firewall ensures that your employees can focus on what is really important to the organization.
Using this tool, you will be able to determine which categories and pages should be blocked to maintain the company's security and productivity. It is also possible to determine the times when access is allowed to ensure more intelligent control.
The indiscriminate use of the internet within the work environment can be very risky and cause countless losses for the company. In addition to increasing the risk of cyber threats, it can also cause a major loss of productivity, impacting profitability and business results.
Increases the protection of your company's devices and network
Active security filters, along with blocking malicious pages, help devices stay healthier and more protected. These strategies allow the internet bandwidth available to carry out activities within the company to be used appropriately and prevent devices from being infected due to improper access carried out during working hours.
In addition to this benefit, using a DNS firewall will also help your company reduce maintenance and device replacement costs due to cyber attacks.
Contributes to reducing costs with training and qualification in cybersecurity
We know that even with a training course and the creation of an internet access policy , it is common for employees to end up accessing inappropriate pages during working hours. This indiscriminate access to the internet causes countless losses for your organization.
The DNS Firewall allows assertive control of these resources and prevents your employees from losing focus on important tasks due to improper access, in addition to preventing access to malicious pages.
As we have seen throughout this article, cryptocurrency mining scams can be an extremely harmful silent threat, and it is essential that your company prepares itself in the best possible way to avoid the losses caused by this type of attack. Count on the help of technology to ensure more complete and intelligent protection of your company's resources, ensuring that there is continuous monitoring of the tools and devices used daily.
How to Block Cryptocurrency Mining Now!
Lumiun Lumiun DNS stands out once again by introducing an important addition to its suite of protection tools: the “Crypto Mining” blocking filter . This new feature aims to prevent unauthorized use of your devices to mine cryptocurrencies, a practice that can compromise the performance and integrity of your network. By proactively acting against this silent threat, Lumiun DNS reinforces your company's digital security, ensuring that your resources remain protected against unwanted activity.
To experience first-hand the effectiveness of this new filter and strengthen the digital defense of your corporate environment, we invite you to take a free trial of Lumiun DNS .
