he Cyber Threat Alliance (CTA) recently released a new report, The Illicit Crytopcurrency Mining Threat, in which the group found that crypto-mining has increased 459% from 2017 through 2018. The most recent quarters show that the trend continues to grow rapidly with no indication of slowing down.
“As the values of various cryptocurrencies increase and their use becomes more prevalent, malicious cyber actors are using computers, web browsers, internet-of-things (IoT) devices, mobile devices, and network infrastructure to steal their processing power to mine cryptocurrencies,” the report stated.
While mining for cryptocurrency is a drain on resources that will result in higher electric bills, it also increases the workload that could result in either decreased productivity of business operations that use computing power or even physical damage to the IT infrastructure.
According to the CTA, though, of greater concern is if illicit cryptocurrency mining is happening within an organization, it is a strong indication that there are flaws in the overall cybersecurity posture.