Cybercriminals are increasingly moving away from ransomware attacks and opting for a more covert strategy of utilizing stolen computing power to mine digital currency. To increase their likelihood of success, these malicious entities constantly vary their tools, tactics, and procedures, remaining adaptive and evasive in their approach.
According to SonicWall, the publisher of cyberattack intelligence and ransomware data, cryptojacking incidents are soaring alarmingly. This comes amid a rapid decline in traditional ransomware attacks as businesses refuse to pay ransom demands.
Cryptojacking
Cryptojacking refers to a form of cybercrime wherein criminals illicitly exploit individuals’ devices, such as computers, smartphones, tablets, and even servers, to engage in cryptocurrency mining. SonicWall’s latest study revealed that Cryptojacking cases soared by almost 400% recording 332 million hits in the first six months of 2023 compared to just 66.7 million during the first half of last
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