INSURANCE BUSINESS CANADA – “Cryptojacking” is the latest cyber risk, experts warn

Daniel Tobok
Posted on: March 20, 2019

Cybersecurity experts have discovered malicious code on several websites that allow third parties to break into affected computers and utilize their processing power to mine cryptocurrency.

Daniel Tobok, CEO of cybersecurity firm Cytelligence, said that screenshots taken in September suggest that a third party tried to use the website to connect to a cryptocurrency miner.

Cryptojacking is extremely common, Tobok added.

Tobok explained that the malicious code can be tweaked such that every time an affected computer is used, the hackers will attempt to mine for more cryptocurrency.

“You become another spoke in the wheel,” he remarked.