We are halfway through 2022, which is one of the worst for crypto markets. Despite the decline in prices, the challenge of crypto-jacking is on the rise. Globally crypto attacks are on the rise, which calls for awareness to investors solutions on how to deal with the attacks. Hackers now have a new skill of using an investor’s resource to illicitly mine crypto.
Core uses of crypto
Investment
People use digital assets for investment. Digital assets are a source of making money (profits).
Mode of payment
Crypto enables easy payment for goods and services. Institutional adoption is high because institutions do not want to limit some individuals who need to use crypto.
Although digital assets are a haven for investors, criticism is associated with them. They include:
Volatility
The prices keep on changing, and this causes losses to short-term investors. This results because of buying high and selling low.
Not regulated
The lack of government involvement is a concern to investors and non-investors. Irregulating also leads to a lack of trust in digital assets by many.
Unpredictability
Digital markets are bear and bull at different times, making it difficult for an investor to choose the best time to invest.
Reasons for the rise in crypto-jacking cases
The need to hack crypto unnoticeably has led to an increase in crypto-jacking cases. The existence of a variety of websites makes investors visit the sites unknowingly and end up providing their details. It is not easy for a victim to realise any compromise on their systems. The cloud infrastructure is the pathway to mining crypto. This is the pathway that hackers use to mine crypto and go unnoticed. The Log4Shell has been manipulated to make the attack an easy task.
Characteristics of a crypto-jacked system
- The battery drains faster.
- The device becomes slow.
The characteristics above could not be associated with attacks. Investing in cryptocurrency entails understanding any possible outcomes that could lead to incurring losses. Blockchain technology is the heart of digital currencies; therefore, attackers look for new ways of attacking day in and day out.
