The cryptocurrency prices have surged since March and has already been accompanied by a wave of cryptojacking attacks consistent with new research published by cybersecurity firm Symantec.
In line with the firm, there was a 163% increase in browser-based cryptojacking activity within the 2nd quarter of this year. Cryptojacking had previously been within a steep decline earlier from March 2019 due to the shutdown of the mining script maker, CoinHive.
Symantec points out the rise within the last quarter coincided with a surge in the price of Bitcoin [BTC] & Monero [XMR], two cryptocurrencies often mined by the threat actors that uses browser-based cryptojacking malware.
Cryptojacking saw a high activity period earlier from September 2017 to March 2019, becoming one among the foremost prevalent sorts of cyber-attacks at that period of time. But earlier in 2019, the CoinHive project reportedly became economically inviable. According to the announcement, the mining service halted their operations on March 8, 2019. Among the explanations behind the closure, the developers noted a 50% drop by hash rate following the last Monero hard fork.
Within a recent interview earlier on 1st August, Josh Lemos, VP of research and intelligence at BlackBerry, said that cryptocurrency miners don’t need to be sophisticated and might be delivered in various ways:
However within a recent report ZDNet suggested that the present hike in attacks was unlikely to be sustained.
“Most cybercrime groups who experimented with cryptojacking operations within the past usually dropped it weeks later, as they also discovered that browser-based cryptocurrency-mining was both a waste of their time and too noisy, drawing more attention to their respective operations than profits.”