What is Cryptojacking, and how can I protect myself from it?

Mining for Bitcoin and other cryptocurrencies consumes as much energy as it does computational power. Thus it was only a matter of how long till the dodgier folks online found ways to unwittingly misuse other online users’ computers for their own monetary benefit. This is known as cryptojacking, which combines cryptocurrency and hijacking.


Related article | Crypto News: A Weekly Review


What is the process of cryptojacking?


Cryptojacking is easy to understand: you go to a website and a virus script runs in the background as you browse the site. This is often only a few lines of JavaScript code that will thereafter exploit your computers or mobile devices to mine crypto such as the CPU-heavy, anonymity-focused Monero.


While you are being cryptojacked, your computer gives private computing power and energy to cryptojackers who mine crypto using your assets without your consent. Infected Chrome browser extensions have also been reported, and have been withdrawn from the Chrome Web Store.


What can I do to protect myself against cryptojacking?


To combat browser-based cryptojacking, just install free browser extensions such as minerBlock (Chrome) or No Coin (Chrome and Firefox).


Is it always a bad idea to mine cryptocurrencies in a browser?


It is not the case. In addition, some people see legit, voluntary bitcoin mining in a browser as a doable alternative revenue model to adverts on websites.


Users, for example, might select whether or not to view advertisements, or they could willingly donate a small fraction of their computing power to mine certain crypto in return for avoiding adverts. Similarly, charity organizations might collect money by urging users to download an app or remain on their website.


Are you ready to dive into crypto?


Join us for more updates:  Facebook Telegram Linkedin | Twitter

MX Global– Built in Malaysia for Malaysians


Any opinions, news, research, analyses, prices, or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.

MX Global Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.