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p style=”text-align: justify;”>Cryptojacking, the unauthorized exploitation of an organization’s computing resources to mine cryptocurrency, has emerged as a significant yet often overlooked cybersecurity threat. Unlike ransomware, which overtly disrupts operations, cryptojacking operates covertly, leading to substantial financial and operational impacts. In 2023, cryptojacking attacks surged by 659%, totaling 1.1 billion incidents, according to SonicWall’s 2024 Cyber Threat Report.
This dramatic increase underscores the growing appeal of cryptojacking among cybercriminals. The financial implications for businesses are severe. Research indicates that for every dollar’s worth of cryptocurrency mined illicitly, companies incur approximately USD 53 in cloud service costs. This disparity highlights the hidden expenses organizations face when their systems are compromised for unauthorized mining activities.
How Cryptojacking Works and Its Impact
Attackers employ various methods to infiltrate systems, including:
- Drive-by Downloads: Compromised websites automatically download mining scripts onto visitors’ devices.
- Phishing Emails: Trick users into installing malware that enables cryptojacking.
- Exploiting Vulnerabilities: Targeting unpatched software to gain unauthorized access.
The rise of c
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