Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
  • bitcoinBitcoin(BTC)$27,569.00
  • ethereumEthereum(ETH)$1,759.90
  • tetherTether(USDT)$1.01
  • binancecoinBNB(BNB)$324.91
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.443254
  • cardanoCardano(ADA)$0.372029
  • dogecoinDogecoin(DOGE)$0.076893
  • staked-etherLido Staked Ether(STETH)$1,756.36
  • matic-networkPolygon(MATIC)$1.12
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Why Is Cryptojacking Rising Despite the Sluggish Market
News

Why Is Cryptojacking Rising Despite the Sluggish Market

Okereke Inno
Last updated: 2023/03/14 at 10:59 AM
Okereke Inno Published July 28, 2022 March 14, 2023
Share
VOC, Voice of Crypto, Crypto Attack

Cryptojacking seems to be the latest way of cashing out for cybercriminals because victims are often oblivious of the compromise. 

According to new research, although the prices of digital assets are plummeting, in the first half of the year, cryptojacking has skyrocketed. American cybersecurity organization SonicWall released a mid-year cyber threat report stating that the volume of cryptojacking rose by $66.7 million. Also, the report indicated that compared to last year’s figure, the global cryptojacking volume rose by 30%. 

Cryptojacking is a cybercrime often carried out due to vulnerabilities in website browsers and extensions. In cryptojacking, perpetrators infect their victim’s computer with malware for mining cryptocurrency. Also, in the process, they infiltrate the victim’s computer resources. 

Why Is Cryptojacking Rising

According to SonicWall’s report, the rise in cryptojacking is a result of several factors. The first factor is that cybercriminals are taking advantage of Log4j vulnerability for deploying attacks in the cloud.

VOC,Voice of Crypto, Cryptojacking

In December 2021, a critical vulnerability affecting java-based logging utility was found in the Open Source Library managed by software company Apache. Hackers usually leverage this to gain remote access to a system.

Secondly, cryptojacking is referred to as a lower-risk attack compared to ransomware. In the case of cryptojacking, victims are unaware of the compromise of their networks or computers. For ransomware to be successful, it needs to be made public. 

The financial sector isn’t spared from cryptojacking, as attackers have moved from targeting the education and healthcare sectors to the financial and retail sectors during this period.

During the period, such attacks on the financial sector rose by 269%. The percentage is five times more than retail– the second highest industry– which had a 63% attacks increase. 

However, researchers pointed out that during the first half of the year, the volume of cryptojacking began to fall due to the slump in crypto prices. The slump in the prices of cryptocurrencies made such attacks less lucrative. 

In the first quarter, researchers saw a higher volume pattern. However, there was a “cryptojacking summer slump” in the second quarter. Also, according to the cybersecurity organization, based on previous trends, the third quarter volumes are likely to be low as attacks will pick up in the 4th quarter. 

The cryptojacking summer slump resulted from the slump in the prices of crypto assets. Since the year began, the crypto market has reduced by 57%.

You Might Also Like

Assesing the Odds of a Bitcoin (BTC) Price Run to $30K

XRP Market Cap Smashes $20B As Ripple vs. SEC Case Stirs News

Dogecoin Whales Make Massive Moves – Where Is DOGE Headed?

SVB Collapse Stalls NFT Market Growth

Ripple (XRP) vs SEC: Deciding Future of Crypto

TAGGED: Hacks
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article BITCOIN Falling BITCOIN Falling | Crypto Sinks | Crypto News Today | BTC and ETH Price Update | Voice of Crypto
Next Article Easy Crypto Trading Easy Crypto Trading | Trading Strategy for Cryptocurrency | Earn Daily from Crypto Trading | VOC
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
web3 event London VOC
Networkverse: NFT & Web3 & Metaverse – Open Mic & Networking
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?