How Can You Prevent Cryptojacking?

Cryptocurrency mining is a resource-intensive but potentially lucrative opportunity, and as such, it has attracted its fair share of fraudsters. Businesses with no relationship to the crypto industry can still wind up at risk of cryptocurrency related fraud as a result, because bad actors often compromise systems to place mining software that allows them to siphon off the electricity and computing power of another organization to pursue crypto mining in a variety of currencies.

Cybersecurity for Prevention

The good news is that preventing cryptojacking is not that different from preventing other cybersecurity breaches. The software that compromises your system still needs to be placed, and that involves common attack vectors like phishing or trojan horse software.

In addition to using state of the industry protocols to prevent information disclosures and breaches that allow the placement of mining software, it is also a good idea to invest in scanning software that includes the ability to seek out cryptocurrency mining applications specifically and not just botnet hijacking more generally. Since cryptocurrency mining can dedicate GPU resources in more specific ways than traditional botnet software, it is often detected differently.

Update Your Insurance Coverage

Cyber insurance has not always anticipated cryptojacking as an issue because it is a relatively new one. If you are not sure whether your coverage is set up to protect you from damages related to this malware trend, now is the time to review your policy.