Have you heard of the virtual currency called cryptocurrency? There seems to be a new one everyday! It started with Bitcoin in 2009, and in 2021 according to Investopedia * there are more than 4000. Below is a list of the five that seem to be more publically known.
- Bitcoin (launched 2009)
- Litecoin ( launched 2011)
- Dogecoin (launched 2013)
- Monero (2014)
- Ethereum (launched 2015)
Cryptocurrency transactions and verification involve complex calculations using a lot of computer power. People can allow their computers to participate in this activity, like little elecronic accountants and auditors, to try to earn fractions of virtual currency as a reward for doing the calculations. This is called cryptomining. It takes a lot of computer 'brain energy' to cryptomine and actually earn anything, so criminals wanting to take advantage of the rise in virtual currency have taken to cryptojacking,
Cryptojacking is where criminals trick someone into downloading a type of malware that sneakily uses the infected computer to mine for virtual currency. Sometimes the cryptojacking could go on for a very long time, and the only sign it is there is that the person's computer is going slow. A computer can become infected with cryptojacking software via a variety of ways including: through malicious links in emails, inadvertantly downloading it from a compromised website, or by downloading an app that has been compromsed or is masquerading as legitmate software.
Ways to help keep your computer safer from cryptojacking
- Use a reputable anti-virus solution and ensure it is kept up to date
- Keep your operating system and software patched and up to date
- Consider using a reputable browser extension that blocks cryptomining
- Be cautious what software or apps you download
- Be cautious about clicking links in emails
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(*) https://www.investopedia.com/tech/most-important-cryptocurrencies-other-than-bitcoin/