Cryptojacking is the new Ransomware


With the rise of cryptocurrencies like bitcoin, has also come the rise of malicious cryptomining.  Cryptomining, or cryptojacking, has become much more frequent in the last year, and experts believe that it is beginning to replace ransomware.

In 2017, ransomware was responsible for 32% of cyber attacks, while cryptomining was only responsible for 7%.  However in 2018 the numbers are almost completely reversed. Cryptojacking currently accounts for 32% of all cyber attacks and ransomware accounts for 8% of the total.

Ransomware became popular last year as an easy way to make money by encrypting the victim's computer and forcing them to pay a ransom in order to decrypt their files.  With cybersecurity companies becoming more advanced at preventing and intercepting ransomware attacks, cryptojacking became an easier and more lucrative option.

Cryptojacking takes criminals straight to the money without the chance that a ransomware victim will not pay the ransom.  With Bitcoin’s value escalating, malicious cryptomining is even more profitable than it has been in the past, leading experts to believe that the percentage of cryptojacking crimes will continue to rise.

While ransomware is still a cyber security threat, it seems that cryptomining will be the next big threat that consumers will have to be worry about.

Story via Computing