The darkside of Bitcoin and Cryptocurrency

If you have ever read or followed my previous articles on Bitcoin and cryptocurrency, you will clearly find me praising and talking all good stuffs about cryptocurrency and bitcoins. But, there is always two sides to the coin. And similarly the case as in Bitcoins. Even if not the whole cryptocurrency concept atleast some part of it falls or has fallen under this darkside, I am going to talk about today.

If you are not really aware of the Bitcoin or crytocurrency concept you can visitWhat is Cryptocurrency and all you need to know ? “. You should get a pretty good idea of what and how does cryptocurrency work and came into being.

So, since that is covered up. Let us now come to the part where you might realize cryptocurrency is not all jolly as it sounds.

I have already mentioned in my previous article, “ What is Cryptocurrency and all you need to know ? about how the cryptocurrency systemvworks ? How is it mined ? Who mines these cryptocurrencies ? and so on.

If you know the answers to the above questions, then what is next to come is not a very difficult task to understand.

cryptocurrency

Cryptocurrencies are basically mined by people known as miners. What these miners do, is use up the processing speed of their computers to mine these cryptocurrencies over the Internet.

Now, it is quite common thing in humans that once you start earning more and more, so does your greed grows more and more. It is quite a normal human nature actually. And crypto miners are no different then any one of us.

On this note, it is quite normal to assume that those people who are involved in these kind of mining jobs are pretty good with computers and programming. So, if any body says that these miners can or are capable of creating some kind of bugs or virus which can take control of your PC or machine to allow them to earn bitcoins. Then it should not come as a big surprise to you.

Well now after considering what a miner can and cannot do, let us go to the main topic at hand.

Recently, there has been some incidents where miners have been found to hack into other’s PCs and machines. And use the preocessing power of these PCs to add up to their own processing power to earn more cryptocurrencies. There is also a term for these kind of hacks. It is known as ” cryptojacking “.

Sounds fun right, but it might not sound so fun for the PC or machine which might get compromised to these kind of viruses or malwares. Once these kind of malwares seep into your machine. It tends to use up your entire PC resources for itself.

According to McAfee’s Chief Consumer Security Evangelist these type of malwares not only turn your computer or laptop into a slow wreck but if cryptojacked, can take up hundred percent of its resources for mining. Thus, causing the host or preyed machine to overheat and causing it maximum damage.

It is said that this type of malwares have spread to over a billion devices till now. Even a recent calender app in Apple was said to have these type of malware in it, which had been oviously donwloaded by a large number of apple users.

So, in this way the cyber world has come to face up a new threat emerging before itself. And if you wan’t to stay away from these kind of malwares or hacks. Then there are a few techniques and methods you can use in to remain safe from these kind of threats.

 

What you can do to avoid “cryptojacking” ?

Well before I tell you about the few techniques to avoid these kind of attacks. Let me be completely honest with you in one point. Even if you have done or tried all the techniques I have listed out below. There is no guarantee, that it will keep your system a 100% safe. It is just not how the cyberworld works.

Although you can be accertain that after trying out the following techniques your system should be if not more, atleast 80% safe and not fall prey to such threats and attacks that easily.

  • Firslty, you need to have a good and trusted security and antivirus application installed into your PC. If you are a Windows User it is best advised you stick to the Windows defender provided by Windows itself. This application consist of all the updated spyware definition and should be enough to detect any kind of new suspicious element that may find it’s way to your PC or system
  • Secondly, you can try out a VPN service. With the help of a VPN service, you can not only create a safe and secured tunnel from your PC to the source. But, this in turn does not allow some other such third party to access your system over the Internet.
  • Thirdly, stay away from any unknown Wi-fi networks. This is the most common way in which hackers can take control of your system without you getting even a slight sense of suspision.

Thus, with this we have covered up pretty much everything you needed to know about this new emerging cyberworld threat over the Internet.

If you are aware or know about any other methods of how to keep a system secured and safe from such attacks. Feel free to let us know in the comments below.


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