Cyber Risks & Liabilities September-October 2021

Detecting and Overcoming Cryptojacking

Cybercrimes are becoming an increasing threat to organizations. There are even various types of cyberattacks to be aware of now, such as cryptojacking. Cryptojacking is the unauthorized use of someone’s computer to mine cryptocurrency. Instead of buying computers and chaining them together to extend processing power, people steal computing cycles by infecting internet-connected devices. This could affect corporate computers, personal computers, and smartphones, and it’s becoming a bigger threat because many employees have transitioned to working remotely. It is more difficult to protect home computers from cyber attacks.

Cryptojacking has increased by 1,189 per cent from September 2020 to March 2021, making it one of the fastest-growing areas of cybercrime, according to Raj Samani, the chief scientist at antivirus-maker McAfee.

The following are tips will help prevent, detect and overcome cryptojacking:

1. Preventing Cryptojacking

Hackers have two main methods to get into a victim’s computer to mine cryptocurrency. One way to is to trick a user into loading cryptomining code onto their computer through phishing tactics. The other is to insert the script on a website or ad that is delivered through multiple websites. Once the website is visited, the script will start running.

The best ways to avoid these attempts are to keep web-filtering tools up to date, install an ad-blocking extension on web browsers and avoid clicking on links from phishing emails.

2. Detecting Cryptojacking

It can be challenging to notice that cryptojacking is happening on a device. Still, some signs to watch for are devices running slower than usual, hotter than normal, and increasing electric bills.

3. Overcoming Cryptojacking

If cryptojacking has been detected on a device, close the browser tab running the script. The organization’s IT department should note the website URL and update its web filters to block it. Additionally, the organization should also update resources, training guides and provide more frequent communications to help identify possible cryptojacking attempts before they happen.

Contact The Hull Group today to learn more about prioritizing cybersecurity.

Cybersecurity Tips for Back to School

Students are returning to school all across the country, and while it can be an exciting time, they must be reminded of the possible risks of using laptops, tablets and smartphones. These devices are all commonly used in learning environments, but there are dangers to having constant online access.

The most common goal of a cyberattack is to obtain valuable information that will result in financial gain. By some estimates, between 2016 and 2019, there were more than 1,200 reported business email compromise fraud cases in Canada, resulting in losses of more than $45 million CAD. While students probably aren’t as much of a target as large corporations, they can still be victims of cyberattacks.

To better prevent cyberattacks, students should:

• Use different passwords – Make sure different passwords are being used for different accounts and devices. It is highly encouraged that strong passwords be used, as well as two-factor authentication when available.
• Avoid phishing scams – Teach students how to watch for phishing scams in their email inbox and social media messages. They should not click on any links from contacts that they don’t know or has a suspicious message, even if it looks like it is from a friend or teacher. Always double-check that a contact is legitimate, especially if they are asking for personal information or payments of any kind.
• Keep programs and operating systems up to date – Operating system and program updates provide devices with the latest security upgrades. These updates make it harder for cybercriminals to exploit vulnerabilities.

Contact us today to learn more about protecting students against ransomware threats.