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Cryptojacking Has Become a Real Problem in the UK

September 20, 2019
Dominic Mann


Cryptojacking Has Become a Real Problem in the UK

What is Cryptojacking?

Cryptojacking is the unauthorised use of someone else’s computer to mine cryptocurrency. The virus can be found in malicious links and attachments usually from phishing emails or by infecting a website using JavaScript auto-execution code which automatically runs and downloads on the victim’s device when opened.

Once downloaded the program will sit in the background hidden, simply mining cryptocurrency. The only signs that users may notice are CPU and GPU speeds slowing down the performance of the device as cryptocurrency mining can take a toll on them.

The UK’s Problem

Small businesses in the UK have been affected by cryptojacking attacks recently as its become more popular. According to CybSafe, a cyber security firm, stated that up to a quarter of small businesses have been targeted as part of this attack. The figures from 250 participants had confirmed that 25% of them suffered cryptojacking attacks on their business in the past twelve months.

This can become a real problem for these businesses as the malware can slow down processor speeds causing slower machines and overheating, making the whole system less efficient and could cause damage in the long term. It is likely that these companies had employees who were not trained in online safety and clicked malicious links or attachments in phishing emails.

CybSafe’s CEO, OZ Alashe, stated that cryptojacking should be taken more seriously:

“Although there are signs now that the cryptojacking threat has somewhat declined over the last few months, businesses shouldn’t be fooled. Coinhive may have been shut down, but organisations shouldn’t assume that the threat has therefore vanished. As long as there is cryptocurrency for the taking, criminals will be looking to steal it.”

In order to combat this issue, it is clear that employee training should be a bigger issue to these companies. By educating others, these companies could save a lot of money in the long term and create a safer environment.