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Cryptocurrency mining malware will be a real problem this year

Cryptocurrency mining malware is expected to stay within the cryptocurrency world. They are indeed a real problem that will continuously bring a headache to cryptocurrency enthusiasts.

cryptocurrency malware
Image: CoinDesk

Cryptocurrency started to gain extreme popularity last year. If you’re a newbie in cryptocurrency, the LetsGoBitcoin will be so helpful to you. It’s one of the hottest websites today that lets anyone learn the best way to use the progressive cryptocurrency on the market. However, the world of bitcoins is threatened by cryptocurrency mining malware. It uses your smartphone’s or PC’s computing power to carry out somebody else’s task in completing cryptocurrency transactions.

You’re in trouble if Google Chrome is your favorite web browser, and if you’ve been using the browser extension we call Archive Poster. With this browser extension, your computer will be secretly attacked by hijackers and they will use your device in mining cryptocurrencies. Archive Poster uses a mining program known as Coinhive to start mining the virtual money called Monero. So, it’s best to stop using this web browser extension and remove it.

Bitcoin mining is a process of legitimizing and validating both local and international bitcoin transactions. In the world of bitcoins, every exchange or transaction made by using virtual coins should be added to a blockchain or bitcoin ledger. These virtual transactions will reach the “block” status. The transactions will be sent to all miners by using various blockchain networks like litecoin, bletitcoin, ripple, and Monero.

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Miners who received these data blocks use the keys they call “nonces” and a specialized hardware to encrypt the data blocks. This hash will be added to the blocks for authentication, and miners get paid after completing a block. Miners must invest in a powerful computing device to effectively execute a mining task. Sadly, a good computing device is expensive. Because of this, aggressive miners out there are enticed to use a malware in mining cryptocurrencies. They just safely think that their victims will never discover their dirty secret.

A cryptocurrency mining malware is not quite new. In December 2016, a Trend Micro testified that Digmine, a mining bot, started to spread through FB Messenger in Google Chrome. It was caused by a nasty script that forces downloading of a web browser extension and it manipulates the computing devices. Also, a Monero mining tool was detected in Showtime’s website code and was deleted later.

Smartphones are also at risk aside from PCs and laptops. Kaspersky revealed that malware called Loapi was created to attack Android devices and manage their processors. Kaspersky noticed that more processing power was continuously used by Loapi. It ran the mobile phones’ processors at full conversation all over that resulted in bulged phone batteries and melted back covers.

Cryptocurrency mining malware is expected to stay within the cryptocurrency world. They are indeed a real problem that will continuously bring a headache to cryptocurrency enthusiasts. Malware creators are not yet done in exerting efforts to help the aggressive miners. Even the newbies in cryptocurrency can become a victim of these mischievous miners. Don’t let yourself become the next victim. You must be careful when using cryptocurrencies. For your peace of mind, you should seek help from the LetsGoBitcoin where you’ll learn how to make the most of the bitcoins!  

Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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