Internet-connected devices could be hacked to mine cryptocurrency
- 6 years ago
BARCELONA, SPAIN — Internet-connected devices could be at risk from hijacking by hackers and used to mine cryptocurrencies, according to cybersecurity firm Avast.
Avast ran a demonstration at the Mobile World Congress in Barcelona, Spain which had several devices hijacked to run cryptocurrency mining software, CNBC reported.
Based on their calculations, if hackers could attack 15,000 devices, they could be used to mine $1,000 worth of Monero digital cash in four days.
A theoretical attack would start with hackers taking over a network of devices and then using that combined computing power to mine digital currency.
Unlike Bitcoin, which requires substantial computing power to mine, Monero can be mined using a network of internet-connected devices.
Monero has grown in popularity among criminals as it advertises itself as being one of the most anonymous digital coins available.
Avast ran a demonstration at the Mobile World Congress in Barcelona, Spain which had several devices hijacked to run cryptocurrency mining software, CNBC reported.
Based on their calculations, if hackers could attack 15,000 devices, they could be used to mine $1,000 worth of Monero digital cash in four days.
A theoretical attack would start with hackers taking over a network of devices and then using that combined computing power to mine digital currency.
Unlike Bitcoin, which requires substantial computing power to mine, Monero can be mined using a network of internet-connected devices.
Monero has grown in popularity among criminals as it advertises itself as being one of the most anonymous digital coins available.