By now, you’ve probably heard of cryptocurrency, but you may not know exactly what it is. To put it simply, cryptocurrencies are virtual currencies that have actual monetary value in today’s world. They are limited entries of transactions into a single database, or public ledger, that can’t be changed without fulfilling certain conditions. These transactions are verified and added to the public ledger through cryptocurrency mining. Cryptocurrency miners try to make money by compiling these transactions into blocks and solving complicated mathematical problems to compete with other miners for the cryptocurrency. While this process of mining for cryptocurrencies can be lucrative, it requires large amounts of computing power.
Unfortunately, the need for massive amounts of hardware has provoked cybercriminals to participate in cryptojacking, a method of using malware to exploit victims’ computers to mine for cryptocurrencies. Cybercrooks spread cryptojacking malware through sketchy mobile apps, flawed software, and malware-infected ads. They can even cryptojack your device during a browsing session while you’re perusing a website that appears completely harmless. Once a user’s device becomes infected, the malware drains the device’s CPU, causing the user’s computer fan to be loud while the malware mines for cryptocurrencies in the background. Unfortunately, symptoms of cryptojacking are usually pretty subtle, with poor device performance being one of the few signs of its presence.