The Growing Menace Of Cryptojacking

Digital bandits are finding it a more attractive channel to extract money than ransomware!

 The cases of cryptojacking are shooting up and nobody is safe with digital bandits finding it a more attractive option to ransomware to extract money! a recent Quick heal report revealed that it had detected more than three million cryptojacking hits between January and may 2018. Mobile users aren’t safe either, says Quick heal, as the number of mobile cryptojacking malware variants have grown to 25 by may 2018 from 8 in 2017, marking a three-fold increase. Quick heal Security Labs expects these numbers to grow even further, as more cybercriminals leverage cryptojacking as a lucrative channel of generating illicit revenues. Sanjay Katkar, Joint managing Director and chief Technology Officer, Quick heal, says, “cryptojacking is emerging as a more cost-effective and efficient alternative to ransomware. With a ransomware attack, there is no guarantee that hackers will be paid a ransom. cryptojacking, on the other hand, is empowering hackers to make use of infected endpoints for swifter and more assured financial gains. as of now, there are no reported instances of data loss in cryptojacking attacks.”