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Cryptocurrencies are still one of the better known uses of blockchain technology, and though their values seem to have leveled off since the explosive growth they experienced a few months ago, that has not stopped people from seeking them out. Of course, where there’s money to be had, you’re sure to find cybercriminals.

This should come as absolutely no surprise. Cryptocurrencies are ideal for cybercriminals, largely due to their high values and equally high levels of anonymity. However, mining even the smallest amount through legitimate means is an expensive and lengthy process that requires specialized computer hardware and significant amounts of electrical power.

As a result, there has been a rise in a new threat to users called crypto jacking. Malware will infect a user’s device and hide in the background, leeching off of the host computer’s resources to mine for cryptocurrency. This causes the exact side effects that you would expect: increased electric bills and hindered performance for the user, with an increased rate of wear on their computer components. Worse, this malware only requires a compromised website to be visited for the malware to go to work – and while this once meant that the malware would only work as long as the unwitting host was on the website, cybercriminals have even found a way to work around that. Now, some infected sites will create a pop-up that hides behind the computer’s taskbar, unnoticed, and continues to eat up resources for the cybercriminal’s profit.

In addition to malware downloads, crypto-miners are often spread through hidden code on the websites themselves, as well as untrustworthy browser extensions. This variety of the malware has been discovered in the websites for the United States Courts, the United Kingdom’s National Health Service, and the Australian state governments of Victoria and Queensland. It was found in a text-to-speech and translation plugin used on those sites. The developer of the plugin removed it from all websites immediately.

Business owners should pay close attention to these events, as they could easily have a direct effect on business operations. After all, you pay a pretty penny for your Internet and its bandwidth – why should it profit some cybercriminal, and not you? Furthermore, mining cryptocurrency is no easy task for any hardware, which means it shortens the life of the machine and the components inside. This ultimately means that you will also be on the hook to replace that hardware sooner, costing your business even more.

Fortunately, not all hope is lost. Many browsers are incorporating anti-cryptocurrency measures, and some antivirus programs can block crypto jacking attempts. There are also some extensions available for some browsers that help to stop cryptomining and crypto jacking scripts.

At Palindrome Consulting, we’re here to help keep your IT running efficiently. This includes preventing threats and malware. Give us a call at 305-944-7300 to find out what we can do for you.

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Elizabeth Mitrani
Elizabeth Mitrani
17:23 06 Aug 19
Palindrome Consulting was key in establishing my business and helps me keep it running. They are the consummate... professionals, incredibly knowledgeable and are always available to help. They have gone above and beyond to ensure that I was up and running quickly and that any issues that may arise on my end or dealt with immediately. I highly recommend Palindrome Consulting.read more
Moshe Rubinstein
Moshe Rubinstein
14:57 28 Jun 19
They are there every step of the way. Responsive and timely. The full service mentality mixed with the problem solving... abilities, is what makes them an easy choice.read more
Benjamin Wainberg
Benjamin Wainberg
14:09 28 Jun 19
Palindrome Consulting is customer centric. For Palindrome Data Safety is paramount; they keep their and our systems... updated with the newest technologies and are not shy at changing to better alternatives. Their platforms are always running and in the odd case there is an event, their technical team has an awesome response time.read more
Copier Man
Copier Man
13:56 28 Jun 19
We have been using Palindrome since 2005. They make my company feel like we are #1 all the time. Expert staff are... always available to help all my users all around the country.read more
Martin Feldman
Martin Feldman
16:43 26 Jun 19
As a partner in Fischer & Feldman, P.A. we have utilized Palindrome Consulting as our IT experts for many years. In... addition to keeping our server up and running, they are available to consult on the everchanging cloud and web landscape. We could not function as a successful law firm without their constant care, attention and almost IMMEDIATE RESPONSE TIME.read more
Rebecca Fischer
Rebecca Fischer
16:39 26 Jun 19
Palindrome has been my IT company for more than 15 years. We have been through four server and computer replacements... over the years all of which went smoothly. As technology has changed Palindrome has kept us current in their recommendations and are extremely responsive when we run into a software or hardware problem. We have been through hurricanes with Palindrome and felt confident they would have us up and running as quickly as possible and despite the fact we are probably a smaller client, they have treated us as one of their most important clients. I highly recommend Palindrome and have complete confidence in their capabilities and service. They have even gone the extra mile when we wanted to donate our old computers to a children's special needs school and delivered the computers, set them up and provided service for the same. Ilan Sredni is the consummate professional and has surrounded himself with top professionals and skilled technicians.read more
Nelson T
Nelson T
20:32 25 Jun 19
Palindrome Consulting has proven itself time and time again to be the epitome of professionalism and technical... expertise. They take the time to listen to your needs and then apply their wealth of technical knowledge to create truly innovative and robust solutions. They truly deliver piece of mind.read more
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