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In cryptojacking, cryptojackers use your computer or smartphone to mine cryptocurrencies using malware.
- Cryptojackers get cryptocurrencies on your computer without you noticing.
- Cryptojacking can be done through your browser and without additional malware.
- Cryptojacking is quick to detect and easily preventable.
In this lesson you will learn about the dangers of cryptojacking.
- How does cryptojacking work?
- How can I protect myself from cryptojacking?
- Should in-browser mining of cryptocurrencies always be viewed critically?
Mining Bitcoin and other cryptocurrencies is as energy and computing intensive as it is profitable. So, it was only a matter of time before fraudsters on the Internet developed ways to abuse the computing power of other users’ computers for their own financial gain. This process is known as “cryptojacking” – an apt term to describe a combination of cryptocurrency and hijacking.
By being a victim of cryptojacking, you allow cryptojackers to use your computer’s processing power and electricity for mining.
How does cryptojacking work?
The concept of cryptojacking is simply explained. You visit a website and as you browse it, a malware script runs in the background. This script usually consists of a few lines of JavaScript code, which then silently starts mining CPU-heavy, anonymity-based cryptocurrencies like Monero using your computer or smartphone.
As a victim of cryptojacking, you are allowing cryptojackers to use your computer’s computing power and power supply for mining without you noticing.
There have also been reports of Chrome browser extensions being infected and then removed from the Chrome Web Store.
How can I protect myself from cryptojacking?
To be protected from cryptojacking through your browser, you actually only need to install free browser extensions like MinerBlock (Chrome) or KoiCoin (Chrome and Firefox).
Some users see legitimate, voluntary in-browser cryptocurrency mining as an alternative monetization model that could potentially replace advertising on websites.
Should in-browser mining of cryptocurrencies always be viewed critically?
Not required. Some users even see legitimate, voluntary cryptocurrency mining as an alternative in-browser monetization model that could potentially replace ads on websites.
For example, users may choose to view ads or knowingly give away a small portion of their computing power to receive a certain cryptocurrency as payment to avoid ads. The same applies to non-profit organizations, which can for example collect donations by asking visitors to install an application or stay on their website.