Cryptojacking Observes a Decline as Mining for Profit Becomes Harder

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There has been a significant drop in the number of cryptojacking attacks from cyber-criminals. Notably, at one point cryptojacking had overtaken Ransomware as the biggest security threat to online users. The drop in Return On Investment (ROI), hackers are losing interest.

Monero was the cryptocurrency of choice selected by users to carry out cryptojacking. This method of mining supports several connected devices. Monero too saw a surge in its value in the previous year, which caused the surge in the number of coin miners. The malware used to mine cryptocurrencies can be deployed on a user’s PC, Smartphone, Servers, and the Internet of Things (IoT) devices. It secretly uses the device’s processing power to mine cryptocurrencies.

Detection of malicious coin miners on consumer desktop PCs had peaked at five million in March of last year, the number declined to 30,000 by January 2018. In the case of business desktop PCs, the detections saw a significant decline from 100,000 incidents in January to 30,000 in June 2018.

Another reason for this decline was that antivirus software becomes more capable of detection such threats. Security researchers have speculated that this decline may lead to cyber-criminals to come up with new and ever more dangerous ways to earn money.

Due to its stealthy nature, cryptojacking appeals cyber-criminals and allows mining for a long time before the malware is detected. The minor drop in performance or the slight increase in fan speed can go unnoticed by users, making it a versatile solution for hackers. Though to make a decent profit, the hacker would require a huge network of infected computers and the patience to wait for several months. Hence, they lose interest in this form of hacking and are looking for new ways to generate money.

 

Karan Balwani

Karan is a writer who shares an undying passion for technology, books and pets. For the past 7 years, he has worked in Business Development and PR before discovering his love for the written word. He regularly posts on his blog and is working on his debut novel.