What is cryptojacking?
Cryptojacking is the secret use of computer devices to mine cryptocurrency. It is achieved through secretly installing a software on users’ computers that unknowingly mines cryptocurrency. There is no need for an installation process like before. When the user downloads the video player to stream a video, the mining software is loaded into the users’ browser and starts the mining process. Some of the sites which have been affected include UFC live-streams, CBS Showtime, and some of the official government websites in Bangladesh and Moldova.
Who is Responsible for Cryptojacking?
This is from the Coinhive’s website:
How it Works
Consequences of Cryptojacking
Pros of Cryptojacking
There has always been an argument that cryptojacking should be viewed as a legitimate mode of monetization that could help prospective website owners to do well with ads which disrupt the operation of their website. The original authors of the code did not have any malicious intent. They only made it for website and browser extensions to monetize websites. That is why later they developed the AutheMine which required permission from the website owner before any impact on the website. Cryptojacking offers advertisement-free user experience, and offers services which are paid with their mining power.
How to Protect Yourself
Although cryptojacking can be viewed as an excellent alternative to deal with the annoying ads, there are several consequences which are stated above that one should consider.