Articles > Cybersecurity > What is cryptojacking and how can you avoid it?
Written by Michael Feder
Reviewed by Kathryn Uhles, MIS, MSP, Dean, College of Business and IT
From identity theft to stolen credit card numbers, the estimated cost of cybercrime worldwide is projected to reach $15.63 trillion by 2029. More than $51 billion of these crimes is attributed to cryptojacking. This portion of the cybercrime world includes breaches like terrorist financing, stolen funds, scams, ransomware, online pharmacy, malware, and the darknet market.
Cryptojacking is when a hacker secretly hijacks computers, smartphones, tablets or servers and turns them into cryptocurrency miners. The unpermitted use exploits blockchain networks or applications, which otherwise securely record and maintain cryptocurrency transactions. More than $2 billion was stolen in 2024 in just the U.S. Here’s what you need to know to prevent this type of crime.
Anyone who has a device connected to the internet and who browses webpages, checks email or downloads apps is at risk for cryptojacking.
While that sounds alarming, there are two common ways people usually fall victim. One occurs by clicking on a malicious email link, which immediately loads crypto-mining software onto your device and, unbeknownst to you, turns it into a crypto-mining machine.
The other method, called drive-by crypto-mining, happens when a piece of JavaScript code is embedded into a webpage so that any time a device is used to visit that page, the device gets used for cryptocurrency mining.
These schemes happen frequently on pages or apps that draw a lot of traffic. For example, in 2018 a cryptojacking code was found hidden on the Los Angeles Times Homicide Report page.
A year later, eight cryptojacking apps were found in the Microsoft Store and even promoted on lists of the top free apps. When users downloaded and launched one of the apps, they would unknowingly download cryptojacking software onto their device. In 2022, nearly 140 million individual crypto attacks were reported.
Since cryptojacking occurs in the background of an operating system, it can be difficult to detect. What’s more, because the code can be disguised to look like regular processes, even antivirus and antimalware software may miss it.
One problem this cyberthreat causes also happens to be one way to detect when cryptojacking is happening: It causes your device to not function properly. A computer that’s being used to mine cryptocurrency may experience problems like:
Recognizing the signs of cryptoattacks is only one way to protect yourself from cybercrimes. Preventing them before they happen is another.
Taking steps to reduce the risk of crypto-malware is also helpful for preventing other cyber threats. If there are concerns about a computer or IT system being under threat of cyberattack, consider connecting with an expert who has a background in cybersecurity and can identify the issue. IT professionals experienced in digital forensics can identify this type of malware, recover from it and prevent it and other cybercrime down the line. It’s worth the time — and a company’s security — to be proactive about understanding the impact of today’s most prominent cyberthreats.
Some helpful ways to reduce the risk of this type of malware are:
Keep in mind that when a computer is being victimized by this type of malware, it could also be troubled by other kinds of cyberattacks. One of the best methods of prevention is understanding other kinds of cybercrimes.
Initially, crypto-malware may seem relatively harmless, but using devices for this cybercrime is more than a breach of security — it’s also a breach of privacy and the right to sole ownership of a device. Other cybersecurity threats include:
While this type of malware can burden a computer’s functionality, it’s not as immediately devastating as other cyberattacks, which often target financial and private information. That’s why it’s important to learn how to detect as many kinds of cyber threats as possible, including malicious cryptomining.
Whether you’re seeking to gain a basic understanding of cybersecurity and other IT skills so you know more how to prevent cryptojacking, or you’re a working professional looking to expand your knowledge, University of Phoenix offers online course collections and degree programs.
Contact University of Phoenix for more information.
A graduate of Johns Hopkins University and its Writing Seminars program and winner of the Stephen A. Dixon Literary Prize, Michael Feder brings an eye for detail and a passion for research to every article he writes. His academic and professional background includes experience in marketing, content development, script writing and SEO. Today, he works as a multimedia specialist at University of Phoenix where he covers a variety of topics ranging from healthcare to IT.
Currently Dean of the College of Business and Information Technology, Kathryn Uhles has served University of Phoenix in a variety of roles since 2006. Prior to joining University of Phoenix, Kathryn taught fifth grade to underprivileged youth in Phoenix.
This article has been vetted by University of Phoenix's editorial advisory committee.
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