Hackers are harnessing the power of cutting-edge technology to commandeer the computing power of unsuspecting users to mine cryptocurrency.
The practice is known as “cryptojacking“ and criminals are targeting smartphones, smart TVs and computers in order to secretly install malicious software to mine cryptocurrencies such as Monero for hackers.
Bob’s Blockchain Café can also reveal that hackers are able to use public Wi-Fi networks to mine Cryptocurrency as well.
So how does it work?
Mining cryptocurrency puts a premium on computing power and by cryptojacking into unsuspecting smart devices, hackers are able to use computational power to mine crypto right under the noses of the device owners without them ever knowing.
Using super-botnets similar to Mirai, (a malware that turns networked devices into remotely controlled bots that can be used to hack into phones, smart tv’s and computers), it is now possible to remotely control a device in order to mine a host of cryptocurrencies without the user’s knowledge.
This can only happen while a webpage is open and although your computer will keep working in many cases the device will begin slow down, heat up and in some cases break down.
So when your brand-new state-of-the-art computer begins to work a bit too hard, and when you hear those fans starting up when you’ve only got a small number of webpages open, you might just be mining crypto for a hacker on the other side of the world.
Not everyone should be worried as criminals only tend to target powerful devices with high levels of computational power.
The main victims of cryptojacking tend to be torrent sites, porn websites and most interestingly deepfake websites as it requires a lot of computer power to make the fake videos.
Deepfake sites have become targets because there is a high chance that they have powerful computers because it takes a certain level of power in order to create high quality deepfake videos.