Is crypto-jacking the new ransomware?

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Cryptojacking concept, computer hackerCybercrime now generates a staggering $1.5 trillion per annum – roughly on a par with Britain’s national debt. One of the reasons behind its growth is the advent of crypto-jacking, which utilises hacking techniques to steal crypto-currencies and has now toppled ransomware as the most lucrative and popular form of online felony.

Crypto-jacking has a number of advantages over other forms of cybercrime. For a start, the cryptocurrency market is now worth a juicy $500 billion – and growing. Furthermore, crypto-jacking is relatively easy to perpetrate, difficult to detect and pays out 100% dividends. It can be done any time, any place and through any device; exploiting data leakage in the cloud.

To keep the cryptojackers at bay, all the usual precautionary security measures should be taken – installing fixes, scanning uploads and downloads, updating anti-virus and firewalls, and ensuring vigilance and good practice amongst all system users.