What is cryptocurrency mining and why should you care?

You have probably heard about digital forms of currency like Bitcoin and others. A lot of legitimate investors have made substantial sums of money speculating on Bitcoin and other cryptocurrency price fluctuations. Buying and selling cryptocurrency is all done anonymously using special automated “mining” software. The more computers you have running, the more money you can make.

Well, cybercriminals have now gotten into the act. There is money to be made, and it can all be done anonymously.

So, how does this affect you?

Legitimate cryptocurrency miners typically set up large banks of computers all running their mining software. Cybercriminals employ malware so that they can use your computer. And, they don’t just use your computer, they use any internet connected device you might have. The malware can spread to or from any computer, smartphone, tablet, gaming system, camera, even things you wouldn’t expect like doorbells, alarm systems, and home automation components.

What this means…

If your devices become infected the real harm is not in the malware itself. It is in what it does. Cryptocurrency mining malware uses a lot of processor power and internet bandwidth. Symptoms include network enabled devices that seem to have frequent connectivity problems, slow internet speeds, fans running loudly or for longer periods than normal. Some devices will eventually become unusable and require complicated firmware update to repair.

What can you do?

Good anti-virus programs can protect your computers. However, not much is available for smartphones and tablets and nothing is available to protect the rest of your internet enabled devices unless you invest in an expensive commercial firewall.

We can help!

Take a look at our newest product, CYBERsitter BLACK. It is a small network device that not only blocks cryptocurrency mining, it also blocks other malware, phishing, tracking, XXX websites, advertising and more. It is easy to install and protects every internet enabled device on your home or office network.

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