Crypto Jacking
Crypto Jacking
BACHELOR OF TECHNOLOGY
(Computer Science Engineering)
SUBMITTED BY
SEPT 2023
1
CRYPTOJACKING
CERTIFICATE
This is to certify that the seminar report entitled “CRYPTOJACKING” submitted by KHALID
JAN 190328 to Government College of Engineering and Technology, Safapora Ganderbal
Kashmir, in partial fulfilment for the award of Degree of Bachelor of Technology in Computer
Science Engineering is a bona-fide record of the seminar work carried out by him under my
supervision during the year 2023.
ACKNOWLEDGEMENT
The sense of accomplishment and ecstasy that comes with completing a task would be incomplete
without thanking Almighty Allah. I would like to acknowledge the people who made it possible
through their unwavering support. I am delighted to submit to you my topic, which is the product
of a careful blend of research and understanding. I express my special thanks to Dr. Rauf Ahmad
Khan, Principal, for providing us with the opportunity to hold the seminar on a positive note. I am
extremely grateful to Dr Nisar Iqbal Wani, Head of Department, Department of Computer Science
and Engineering, for his guidance. I would like to thank MS Bisma Rashid, Lecturer Computer
Science, for his kind supervision which shaped the present work as it shows. I appreciate everyone,
especially those who contributed to present this topic in this light.
Khalid Jan
ABSTRACT
Cryptojacking is a cyber threat where hackers illicitly hijack a victim's computer, smartphone, or
other devices to mine cryptocurrencies like Bitcoin or Monero. They achieve this covertly through
malicious scripts on websites, phishing emails, or malware. Once compromised, the victim's
device is used to perform the complex computations necessary for cryptocurrency mining,
consuming processing power and energy. This activity often slows down the device, increases
electricity costs, and can lead to performance issues. Cryptojacking is a stealthy way for attackers
to profit from cryptocurrency without the victim's knowledge or consent, making it a growing
concern in the realm of cybersecurity.
But our exploration doesn't stop at understanding how cryptojacking works. We will dive deep
into its diverse forms, including in-browser cryptojacking, malware-based attacks, and drive-by
incidents. Each variant presents unique challenges and impacts, which we will meticulously
dissect. The impacts, indeed, are far-reaching, encompassing performance degradation that
frustrates users, elevated energy consumption that leads to higher bills, financial costs that burden
individuals and organizations, reputational damage that erodes trust, and opportunity costs that
arise from diverted computing resources.
Our seminar report will equip attendees with the tools needed to detect, prevent, and mitigate
cryptojacking threats. We will discuss practical methods for monitoring system resources to spot
cryptojacking attempts, explore browser extensions and add-ons that shield against malicious
scripts, emphasize the importance of timely security updates, and underscore the role of user
education in bolstering defenses. In an era where cybersecurity vigilance is paramount, this
4 Department of Computer Science
CRYPTOJACKING
LIST OF FIGURES
CONTENTS
Title Page
ACKNOWLEDGEMENTS..........................................................................3
ABSTRACT...................................................................................................4-5
LIST OF FIGURES.......................................................................................6
CHAPTER 1 INTRODUCTION...........................................................9-15
1.1 Introduction to Cryptocurrency..........................................................................9-10
2.4 Piggybacking........................................................................................................17
CHAPTER 8 CONCLUSION.................................................................36
8.1 Conclusion...........................................................................................................36
REFERENCES.................................................................................................37
CHAPTER 1
INTRODUCTION
system that operates on a decentralized network of computers, eschewing the need for
intermediaries like banks and governments in financial transactions.
Central to the functioning of cryptocurrencies is blockchain technology, which serves as the
backbone of most digital currencies. A blockchain is a distributed ledger that records all
transactions in a chronological and immutable manner. It consists of a chain of blocks, each
containing a batch of transactions. These blocks are linked together in a secure and transparent
fashion, forming a continuous chain that can be verified by anyone on the network. The
decentralized nature of blockchain ensures that no single entity or authority has control over the
entire network, making it resistant to manipulation and fraud.
Bitcoin operates on a public blockchain where every transaction is visible to all participants on the
network. Transactions are grouped into blocks and added to the blockchain through a process
called mining. Miners use computational power to solve complex mathematical puzzles, and once
a puzzle is solved, they create a new block of transactions and append it to the blockchain. Miners
are rewarded with newly created bitcoins and transaction fees for their efforts, making mining a
crucial component of the Bitcoin network's security and transaction validation process.
The success of Bitcoin paved the way for the emergence of thousands of other cryptocurrencies,
often referred to as altcoins. Each altcoin has its unique features, consensus mechanisms, and use
cases. Ethereum, for instance, introduced the concept of smart contracts, self-executing agreements
with predefined rules that run on the Ethereum blockchain. Ripple (XRP) focuses on facilitating
fast and low-cost cross-border payments for financial institutions. Litecoin (LTC) aims to be a
faster and more lightweight alternative to Bitcoin, and many others serve niche purposes, from
privacy-focused coins like Monero (XMR) to blockchain platforms like Cardano (ADA) that
emphasize scalability and sustainability.
The rise of cryptocurrencies has been accompanied by a wave of enthusiasm, investment, and
innovation. Supporters argue that cryptocurrencies offer numerous advantages over traditional
financial systems. One of the most significant benefits is the potential for faster and cheaper cross-
border transactions. Traditional international money transfers can be slow, costly, and encumbered
by intermediaries like banks and remittance services. Cryptocurrencies enable users to send funds
directly to recipients anywhere in the world, often within minutes and with lower fees.
Browser mining, also known as "in-browser mining" or "web-based mining," was initially
conceived as a legitimate method for website operators to monetize their content. Instead of relying
on traditional advertising or subscription models, website owners could request visitors to lend
their computational power while browsing the site, which would then be harnessed for
cryptocurrency mining, typically involving cryptocurrencies designed to be mined using
consumer-grade hardware. The idea seemed innocuous, with visitors willingly allowing a fraction
of their CPU power to be used for mining in exchange for an ad-free browsing experience or access
to premium content. However, this concept swiftly evolved into a less ethical practice as certain
websites and online ads began employing browser mining without visitors' knowledge or consent,
marking the birth of cryptojacking.
The mechanisms behind cryptojacking are diverse but share a common goal of surreptitious
cryptocurrency mining. One of the most prevalent methods involves the use of malicious
JavaScript code, which is covertly embedded within compromised websites or online
advertisements. When an unsuspecting user visits such a website or encounters a malicious ad, the
JavaScript code is executed in the background, initiating cryptocurrency mining without the user's
knowledge. The computational burden falls squarely on the visitor's device, which can lead to
performance degradation, increased energy consumption, and even hardware wear and tear.
Another avenue for cryptojacking involves the distribution of malware, where malicious software,
such as Trojans or worms, infects a victim's device, granting control over its computational
resources. These malware variants then execute cryptocurrency mining operations while remaining
concealed from the user's view, often spread across networks, creating a network of hijacked
computing power.
The motivations behind cryptojacking are rooted in financial gain, offering cybercriminals a
lucrative and relatively low-risk avenue for generating cryptocurrency income. Unlike some
cyberattacks that aim to steal sensitive data or disrupt systems, cryptojacking centers around a
financial motive—the mining of cryptocurrencies without bearing the associated costs. This
financial incentive is further compounded by the low risk associated with cryptojacking, as it is
challenging to trace the source of such activities, and penalties for these crimes are typically less
severe than those for traditional cybercrimes. The anonymity afforded by cryptocurrencies like
Monero, frequently targeted in cryptojacking schemes, adds to the appeal, making it challenging
to trace transactions and wallet owners, thereby facilitating the laundering of illicitly obtained
cryptocurrency. Additionally, the proliferation of internet-connected devices, including
smartphones, tablets, and Internet of Things (IoT) devices, has expanded the pool of available
computational resources, allowing cryptojackers to target a broad array of devices, increasing their
potential mining power. Cryptojackers continually adapt their techniques to evade detection,
making it a dynamic and ever-evolving threat, further challenging the efforts of security experts
and organizations striving to mitigate its impact.
The impact of cryptojacking is significant and multifaceted, affecting both individuals and
organizations. One immediate consequence is performance degradation, as the mining process
consumes a substantial amount of CPU power, leading to slower response times, increased fan
noise due to overheating, and reduced battery life on mobile devices. Moreover, cryptojacking
substantially increases energy consumption on compromised devices, resulting in higher
electricity bills for individuals and organizations, particularly concerning large-scale infections.
Beyond these immediate effects, cryptojacking can also cause hardware wear and tear, potentially
reducing the lifespan of affected devices.
The covert nature of cryptojacking presents a considerable challenge, as victims are often unaware
of the intrusion until they experience the consequences. The practice continues to evolve, adapting
to new technologies and security measures, making it a persistent and formidable digital threat.
Consequently, individuals and organizations must remain vigilant, employing robust cybersecurity
measures to detect and mitigate the risks associated with cryptojacking, thereby safeguarding their
digital assets and computing resources from this ever-present menace.
CHAPTER 2
TYPES OF CRYPTOJACKING
CHAPTER 3
HOW CRYPTOJACKING WORKS
let's dive into the working of cryptojacking in detail, specifically focusing on what hackers do after
gaining access to a device and how they proceed with the mining operation:
2.Malware Installation: Once inside the victim's device, the attacker installs the necessary
cryptojacking software or scripts. This malware operates stealthily in the background to avoid
detection.
3.Initialization: The malware initiates the cryptojacking operation by performing the following
steps:
4.Mining Process: With the infrastructure in place, the attacker's malware engages in the actual
mining process:
5.Block Submission: Once the miner finds a valid hash, the malware sends the completed block
to the mining pool for verification and inclusion in the blockchain.
6.Earning Rewards: The mining pool distributes rewards to the attacker's cryptocurrency wallet
based on their contribution to the pool's computational power. These rewards typically consist of
newly created cryptocurrency tokens (e.g., Bitcoin) and transaction fees from the verified
transactions in the mined block.
7.Continuous Operation: The cryptojacking malware remains active on the victim's device,
continuously repeating the mining process to maximize the attacker's earnings. It also frequently
changes the nonce to search for a valid hash, ensuring that the mining operation remains ongoing.
8.Concealment: To avoid detection, cryptojacking malware often employs various tactics, such
as throttling CPU usage to avoid performance degradation, running only when the device is idle,
or using evasion techniques to evade antivirus and security software.
9.Monitoring and Exfiltration: The attacker monitors the progress of the mining operation
remotely, ensuring the malware is functioning as intended. The mined cryptocurrency is
periodically exfiltrated to the attacker's wallet.
CHAPTER 4
RISKS OF CRYPTOJACKING
• Device Overheating: The continuous and intensive use of CPU/GPU during cryptojacking
can cause devices to overheat. Over time, this may lead to hardware damage or reduced
device lifespan.
• Reduced Hardware Reliability: Constantly running hardware at high loads can accelerate
wear and tear, potentially leading to premature hardware failure. Replacing and
maintaining hardware can be costly for both individuals and businesses.
• Data Loss and Corruption: The heavy strain on the CPU/GPU can lead to data loss or
corruption, especially if the device crashes while critical operations are in progress. This
can result in data recovery efforts or permanent data loss.
• Decreased Stock Value: For publicly traded companies, news of a cryptojacking incident
and its financial implications can negatively impact stock prices, potentially leading to a
decrease in shareholder value.
• Increased Operational Costs: Cryptojacking leads to higher electricity bills due to the
increased energy consumption of affected devices. This can strain the finances of
individuals and businesses, particularly those with many devices.
lead to additional strain on power grids and contribute to higher carbon emissions,
particularly if the energy source is fossil fuels.
• Energy Efficiency Concerns: Cryptojacking malware may not be designed for energy
efficiency, as its primary goal is to maximize mining output. Consequently, devices
operating at full capacity for extended periods consume more energy than necessary,
leading to wasteful energy practices.
• Hardware Lifespan: Cryptojacking's continuous high load on CPUs and GPUs can shorten
the lifespan of these hardware components. The premature disposal and replacement of
devices contribute to electronic waste, which has environmental repercussions.
CHAPTER 5
NOTABLE CRYPTOJACKING ATTACKS
This approach, known as cryptojacking, involves websites or attackers leveraging visitors' CPU
power to mine cryptocurrencies covertly. While it can generate revenue for the website operators,
it is often viewed negatively due to the lack of transparency and the impact on visitors' devices.
Users have the option to block or disable JavaScript, use ad blockers, or employ browser add-ons
to prevent such mining activities. Monero was the chosen cryptocurrency for this mining effort,
known for its private features.
WannaMine employs various techniques and capabilities, some akin to those used by nation-state
actors, to hijack victims' computers and CPU processing power secretly for cryptocurrency mining.
It leverages "living off the land" techniques, including Windows Management Instrumentation
(WMI) permanent event subscriptions for persistence and propagation via the Eternal Blue exploit.
The malware can infect computers through malicious links in emails or websites, remote access
attacks, or other means, often without the victim's awareness except for a noticeable slowdown in
computer performance. One distinctive aspect of WannaMine is its fileless operation, relying on
legitimate system software such as WMI and PowerShell, making detection and blocking difficult
for organizations without advanced antivirus solutions. The malware employs "Mimi Katz" to
recover login credentials from system memory and attempts infiltration. If unsuccessful, it turns
to the Eternal Blue exploit to gain access.
The number of cryptojacking attacks, including those involving WannaMine, has seen a significant
uptick in early 2018, and experts anticipate a continued increase in such activities. These attacks
can lead to business disruptions, downtime, and financial losses for affected organizations. It
underscores the importance of robust cybersecurity measures and next-generation antivirus
solutions to detect and mitigate evolving threats in the digital landscape.
servers, the botnet can significantly impact performance and energy costs. Additionally, the
botnet has been observed conducting additional attacks via Eternal Blue to expand its size
further.
CHAPTER 6
PREVENTION AND MITIGATION
• Blacklisting: Antivirus programs maintain lists of known malicious websites and domains
associated with cryptojacking. When users attempt to access these sites or domains, the
antivirus software can block access and prevent script execution.
• Customization: Users can customize the settings of these extensions to determine which
scripts or content to block. This allows for fine-tuning the level of protection and
minimizing false positives.
• Timely Deployment: It's crucial to apply security updates promptly. Delaying updates can
leave systems exposed to exploitation, as attackers may quickly take advantage of known
vulnerabilities.
• Operating System Updates: Both operating system developers like Microsoft, Apple, and
Linux distributors regularly release updates to fix security vulnerabilities. Ensuring that
your operating system is up to date is a fundamental step in protecting against
cryptojacking.
• Browser Updates: Web browsers are common targets for cryptojacking scripts. Keeping
your browser up to date ensures that known vulnerabilities are patched, reducing the risk
of drive-by cryptojacking attacks.
• Port Blocking: Firewalls can be configured to block specific network ports commonly used
by cryptojacking malware to communicate with external command and control servers.
This helps disrupt communication between the infected device and the attacker's
infrastructure.
• Traffic Inspection: Advanced firewalls perform deep packet inspection, analyzing network
traffic for known cryptojacking signatures or patterns of behavior. If suspicious activity is
identified, the firewall can take action to block it.
• Application Layer Filtering: Some firewalls offer application layer filtering capabilities,
allowing them to inspect and block specific web applications or scripts that are commonly
associated with cryptojacking.
• Whitelisting and Blacklisting: Network security solutions often support whitelisting and
blacklisting of websites and IP addresses. Known malicious domains can be blacklisted,
preventing access to cryptojacking-related content.
• VPN and Remote Access Security: Organizations should secure virtual private networks
(VPNs) and remote access points to prevent unauthorized access to their networks.
Attackers may attempt to exploit vulnerabilities in these entry points for cryptojacking.
• Safe Browsing Practices: Users can be taught safe browsing practices, such as avoiding
suspicious websites, not clicking on suspicious links, and verifying the legitimacy of
websites before providing personal information or executing downloads.
CHAPTER 7
FUTURE TRENDS
1. Fileless Cryptojacking:
One emerging threat is the use of fileless cryptojacking, where attackers avoid dropping traditional
malware files on victims' systems. Instead, they leverage legitimate system tools like PowerShell
and Windows Management Instrumentation (WMI) to run scripts directly in memory, making
detection more challenging.
2. Zero-Day Exploits:
34 Department of Computer Science
CRYPTOJACKING
CHAPTER 8
CONCLUSION
Cryptojacking represents a persistent and evolving threat in the cybersecurity landscape. This
malicious practice, which involves illicitly harnessing the computing power of unsuspecting
victims to mine cryptocurrencies, has gained prominence due to the profitability and anonymity it
offers to attackers. In this report, we have explored the various facets of cryptojacking, including
its working mechanisms, types, technical risks, financial implications, security concerns, and
preventive measures.
As the cryptocurrency market continues to grow, so does the allure of cryptojacking for
cybercriminals. Its adaptability and ability to fly under the radar make it a formidable adversary.
It has evolved from browser-based scripts to more sophisticated fileless attacks, exploiting zero-
day vulnerabilities and targeting a wide array of devices, including IoT and mobile platforms.
To combat the menace of cryptojacking, individuals and organizations must remain vigilant.
Implementing robust cybersecurity practices, such as keeping software up to date, employing
advanced antivirus tools, and educating users, is crucial. Collaborative efforts within the
cybersecurity community, information sharing, and the development of next-generation security
solutions will play pivotal roles in staying ahead of cryptojackers.
While cryptojacking may be financially rewarding for attackers, its impact on victims can be
significant, leading to increased operational costs, system slowdowns, and potential data breaches.
Therefore, proactive measures and a comprehensive understanding of cryptojacking are essential
to protect against this evolving threat. By staying informed and continually adapting security
measures, individuals and organizations can reduce their exposure to cryptojacking and maintain
a safer digital environment.
REFERENCES
[1] Symantec. (2018). Cryptojacking coin miners continue to dominate the threat landscape.
Symantec Blog Post
[2] Khandelwal, S. (2017). Beware of 'Cryptojacking' Attacks: Hackers Hijack Your CPU to Mine
Cryptocurrencies. The Hacker News Article
[3. Goel, V. (2018). Your Computer May Be Making Bitcoin for Hackers. The New York Times
Article
[4] Check Point Research. (2018). The Prevalence of Cryptomining in Cyber Attacks. Check
Point Report
[5] Moore, M. (2018). Cryptojacking malware: What it is and how to prevent it. TechRepublic
Article
[6] Swiderski, F. (2019). The Basics of Cryptomining: Why Threats in This Environment Are Here
to Stay. TrendMicro Article
[7] Wang, Q., Li, X., & Qian, J. (2018). CoinThief: new cryptocurrency mining malware earns
$1000 in two weeks. IET Cyber-Physical Systems: Theory & Applications, 2(3), 155-162.
[8] Cisco Talos. (2019). Threat Trends: Cryptocurrency Mining Malware. Cisco Talos Report
[9] Liao, H. C., & Hsu, C. J. (2019). Cryptojacking Detection Based on Machine Learning
Approaches. IEEE Access, 7, 152174-152185.
[10] Pham, Q., Dinh, T., & Ha, Q. (2019). A Survey of Cryptojacking Attacks: From
Cryptocurrency Mining to Illicit Mining. Journal of Information Security and Applications,
47, 1-19.
[11] Singh, P., & Sood, S. K. (2019). Cryptojacking: A Comprehensive Survey. Journal of
Computer Virology and Hacking Techniques, 15(3), 187-208.
[18] Adi, K., & Abraham, A. (2018). A survey of cryptocurrency mining attacks on IoT and
their countermeasures. Future Generation Computer Systems, 82, 397-409.