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The Next Level Network Blog

IT Management, Security, Compliance for Regulated Firms

Crypto Mining Tools Are Overtaking Ransomware Attacks as a Cyber Threat

Jul 10, 2019 1:16:39 PM / by Liege Payne, Director of Sales & Business Development posted in Ransomware, Soundshore Technology Group, Crypto Mining Tools

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Longer-term Payoffs, Lower Tech Skill Requirements Motivating More Bad Actors

A new cyber threat – crypto mining – began in 2017, accelerated in 2018 and is exploding in 2019, overtaking ransomware attacks to become one of the most prolific threats out there. More correctly termed ‘crypto jacking’ when used for nefarious purposes, crypto mining, when used legally, is a part of the cryptocurrency ecosystem that helps to keep track of ‘blocks’ of cryptocurrency as they’re created. Legitimate crypto miners use crypto mining tools on their computers that may earn them a few pennies for their efforts to help maintain and/or increase the value of cryptocurrencies.

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