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How Cryptojacking Affects Global Servers

BFSI News

How_Cryptojacking-Affects-Global-Servers How Cryptojacking Affects Global ServersFor the past few years, cybersecurity term has been in the news as several technological advancements by companies happen day by day. These advancements are not only results in cyber threats, but also changing their targets and scope, and now a new form of a cyber attack affecting both individuals and companies that found a way to digital currency named cryptojacking. While digital currency, especially Bitcoin, surged in value in the last couple of years, these kinds of cryptocurrencies became a sizzling investment.

However, the attacks seemed to reduce as cryptocurrencies vanished their luster and knock down in value last year. But on the other hand, Bitcoin recently bounced back to hit its highest point in a year. Thus, it’s expecting that cryptojackers are again ramping up their attacks. According to an analysis by an international hacker and cybersecurity expert group Guardicore Labs, as many as 50,000 servers worldwide have allegedly been infected with an advanced cryptojacking malware that mines the privacy-focused open-source cryptocurrency turtlecoin (TRTL). Cryptojacking is not anything disparate from a form of cyberattack and it’s an industry term in which hackers use remote computer systems to mine cryptocurrency without the owner’s consent or knowledge.

In April, Guardicore Labs first detected the campaign and traced its origins and progress, and believes that the malware has infected over 50,000 Windows MS-SQL and PHPMyAdmin servers over the past four months across the world. The analysts backdated attacks to end of February, with noting that the campaign’s precipitous expansion at a rate of over “seven hundred new victims per day.” Additionally, they further reported that the number of infected servers surprisingly doubled and hit 47,985 between April 13 and May 13.