Technology

What is Cryptojacking? Why did it surge by 269% in 2022?

Hacks and scams aren’t new to the crypto-verse. Ill doers have shown no mercy despite the gruesome bear market. They have in fact adopted new and innovative ways to pocket easy money. One such method that seems to have taken the front stage in 2022 is cryptojacking. While the term isn’t as popular as other hacking methods, cryptojacking managed to secure a record high this year. Also known as malicious mining, cryptojacking is the process of employing naive individuals’ devices like computers or smartphones to illegally mine cryptocurrency. The criminals here try to steal computing resources from victims that would further aid them in mining. With this, they would be eliminating the cost associated with the whole process of mining an asset. Cryptojacking is usually prompted after a victim clicks on a malicious link. Another approach involves embedding a bit of JavaScript code onto a web page. This is called drive-by crypto mining. Categorized as a cybercrime, it stays hidden from the victim. This crime quite often stays under the wraps and might go unnoticed by the victims. It should be noted that the software that carries out cryptojacking is formulated to help the criminals stay hidden.

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