Cryptocurrency prices have been very volatile of late with a huge rally followed by a sharp correction and the start of a recovery.
As a result, businesses have become more tempting targets for cryptojacking — or the unauthorized use of a computer to mine cryptocurrency, with attempts jumping when crypto prices increase. How can organizations combat these issues before the next bull run?
The best way is by avoiding infection from the start with some simple security practices, such as: Implement multi-factor authentication; leverage advanced behavior-based anti-malware services; treat all unsolicited email links and attachments with extreme caution; and keep up to date with web browser and extension security patches.
Social media scams also play a major role in cryptojacking.
These are very alarming and real threats. The good news is that as cryptocurrency adoption grows, so does market monitoring, making it easier to track cryptojacking schemes back to the hackers. The FBI’s recent Internet Crime Report described how its Recovery Asset Team tracked down five fraudulent wire transfers and quickly placed a hold on funds, allowing the victim time for the indemnification process. This kind of due diligence goes a long way in deterring online fraud.
While the future of cryptocurrency prices remains uncertain, businesses must stay alert to protect against such threats. Keep these criminal techniques and security tips in mind to avoid falling prey to cyberattacks during future cryptocurrency bull runs.
