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Drive-By Cryptomining Is Surging and Evolving

Written by FinTech Futures 9th March Leave a comment Cancel reply -or- Log in with your FinTech Futures account Alternatively, post a comment by completing the form below:. Related How financial services leaders can create opportunities in a crisis. Retail banking is set to undergo up to three years of acceleration in digital banking preference just this year.

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Alexandra Boyle is OpenFin's director, head of strategic client group in Europe. Women highlight gender bias in the financial services workplace. Related Content Why do women still think they need to be palatable?

How cryptojacking works

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Banking Technology March issue out now. Banking Technology February issue out now. Webinar: Getting to market faster by outsourcing PCI compliance. Webinar: Balancing app innovation and cybersecurity in financial services. Webinar: How to stop massive mobile banking fraud with app security and risk-based authentication. Report: The power of data analytics in fintech solutions. Omdia Universe Temenos recognised as a leader for digital banking platforms. Content Hubs. The rise of challenger banks around the world. Cryptojacking may solve that.

Despite the wild swings in price, roughly 60 percent of the cost of legitimately mining bitcoin is the energy consumption. In fact, at the time of writing, the price of a bitcoin is worth less than the cost of mining it legitimately.

SonicWall Archives - ACS

Cryptojackers use similar techniques as malware to sneak on to an endpoint: drive-by downloads, phishing campaigns, in-browser vulnerabilities and browser plugins , to name a few. And, of course, they rely on the weakest link — the people — via social engineering techniques.

Cryptominers are interested in your processing power, and cryptojackers have to trade off stealth against profit. How much of your CPU resources they take depends on their objectives.

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Siphoning less power makes it harder for unsuspecting users to notice. Stealing more increases their profits. In either case, there will be a performance impact, but if the threshold is low enough it could be a challenge to distinguish the miner from legitimate software.

Enterprise administrators may look for unknown processes in their environment, and end users on Windows should spawn a Sysinternals Process Explorer to see what they are running. Linux and macOS users should investigate using System Monitor and Activity Monitor, respectively, for the same reason.

The first step in defending against cryptominers is to stop this type of malware at the gateway, either through firewalls or email security perimeter security , which is one of the best ways to scrub out known file-based threats. Since people like to reuse old code, catching cryptojackers like CoinHive can be a simple first step. If the malware strain is unknown new or updated , then it will bypass static filters in perimeter security.

1. Cryptojacking will impact your resources.

If a file is unknown, it will be routed to a sandbox to inspect the nature of the file. In the case of SonicWall Capture ATP , the multi-engine sandbox environment is designed to identify and stop evasive malware that may evade one engine but not the others. If you have an endpoint not behind this typical set up e.