Cryptocurrency Security Guide: Everything You Need to Know

Note that cryptocurrencies have hit the mainstream and become a worldwide phenomenon. Investors want to make sure that they do not lose any profit due to mining virus or crypto malware.

Security is a growing concern that the cryptocurrency community faces today. The reality is that the new wave of hackers, malware, and ransomware does not take too much to create damage. Accordingly, the harm can have an immediate financial impact. The mining software which infects cloud infrastructure will drives up the electric bill. Additionally, lower the productivity and performance of machines. If investors do not take crypto security as your first priority, you’re essentially open your gate and welcome hackers to come in.

Same as other malicious program, cryptomalware can take a various kind of methods to be profitable. So far, Hackers mainly focus on two ways. First, directly stealing the cryptocurrency from investors’ wallets. Secondly, secretly implant mining program on users’ devices. The threat targets not only the computers but any connected devices can be part of the mining botnet. Although, the computing capacity of smartphones and IoT devices are much lower than servers and computers. We still find some criminals working on cryptocurrency mining malware to infect these devices.

Mining cryptocurrency is an intensive task requiring lots of resources not to mention its high power consumption. With CPUs which are not particularly made for crypto mining, it can be detrimental to victims’ hardware. In 2017, the most detected network security problem from Trend MicroTM Smart Home Network is cryptomining.

How to Prevent from Cryptomining Malware

The negative effects cause by mining program has it to become a serious threat. To reduce the risk, we recommend users to adapt the best methods:

  • Change default passwords and prevent unauthorized access
  • Use Two Factor Authentication to encrypt your data
  • Use a dedicated PC or mobile device to manage your cryptocurrency
  • Implement detection and prevention system against malicious activities
  • Notice the known attack, such as the attachment and link from the social network, suspicious websites, or the third-party application

Try Trend Micro Home Network Security now. We can protect all the connected devices in your smart home from being harmed by the cryptomalware.

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