Hackers around the world are scanning the web for docking platforms to undertake illegal mining operations called cryptojacking. In the latest effort more than 59,000 IPs were scanned by a group of hackers for finding any docking platforms through which they can mine cryptocurrencies. These open docking platforms are basically open ended APIs that hackers can take advantage of and then redirect their processing power for the illegal mining operations. The findings were revealed in a report by ZDNet, a tech outlet.
The report has various findings that make users realize the enormous threat posed by hackers when it comes cryptojacking activities. APIs with any loose ends can easily be detected by hackers and they can deploy their crypto malware that can start redirecting your computer’s power to remote mining pools. The effort was first reported by American Bad Packets LLC company on November 25 and since then multiple revelations regarding the mass scanning have been made.
Now most of the current cryptojacking attempts direct mining to Monero, a cryptocurrency with known privacy features which allow users to conceal their identity carefully. According to the current chief research officer of Bad Packets LLC Troy Mursch, the cryptojacking activities are widespread around the world and often unsuspecting users didn’t even know why their phones and computers kept slowing down and the answer behind in many cases was cryptojacking.
Mursch reported that a classic Monero miner was used by this team of cryptojackers and a total of around 14.82 XMR was mined in just two days during the process which is around $850 based on current value of XMR. Keep in mind that hackers are getting this mining power for free and $850 exploit in just two days is a massive cryptojacked amount since the perpetrators don’t need to deploy any kind of infrastructure for this purpose or pay any bills.
To overcome this significant vulnerability, Mursch recommends that users check the end points of their APIs and then close their ports. They should also close their running containers to help end any ongoing cryptojacking efforts.
Monero while has received praise for its privacy functions but has also incurred the wrath of governments which have forced exchanges and other trading platforms to ban its trading and use. BitPay most famously delisted the cryptocurrency on November 25 citing its security-related issues. But, even with the backlash, Monero remains the cryptocurrency of choice for all hackers.
image source: pixabay.com
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