Over the years, hackers have used Ransomware to blackmail computer users. Ransomware is a malicious malware that encrypts computer files. They then ask for ransom from the PC owners to remove the malware. However, these hackers have turned to a new tactic of infecting computers with a malware that enables them to mine cryptocurrencies with your computer, without your knowledge of course.
How hackers are using coinhive to mine cryptocurrencies on your computer
The malware could also hide in browser extensions, and continues to mine cryptocurrencies each time you are surfing the internet. This causes your browser to slow down each time. The malware could corrupt your computer files too. It not only corrupts your browser but your binary files too, to deliver the malware to your PC and it destroys the files in the process.
For computers connected in a local network, the malware could infect all the connected devices. This only means that all the computers in the network will be used by the hackers to make huge amounts of money due to increased computing power. The hackers have a potential of making a small amount of money daily on each computer. However, if they infect thousands of computers, they have a potential of making millions.
With an efficient antivirus, it is possible to lock out the malware before it infects your computer. Experts say that hackers might use IoT to mine the digital coins in future. IoT users cannot easily notice their devices are being used to mine cryptocurrencies. Therefore, hackers have a potential of getting even more rich with your IoT devices.