Sophos Security Advisor James Lyne joined the Nightly Business Report on PBS last week to talk about the latest unsettling emerging trend in online threats: cryptomining.
Cryptomining has been making headlines in recent days with an eerie reminder of how risk-filled the web can be: YouTube users have been noticing that certain ads trigger their antivirus software – a huge red flag that something is remiss.
Unlike traditional currency, there’s a lack of regulation or insurance for the digital kind, which makes it appealing for thieves.
It is important to consider your electronic wallet with the same paranoia as your physical wallet
People are leaving their online wallets around for malicious code to scoop up and steal, and the bad guys are succeeding because of very basic flaws in our security habits.
Invest in making sure you’ve got strong passwords and use an offline wallet system, suggests Lyne, instead of being on a third-party exchange.
But even if you don’t own or have never even imagined buying digital currency yourself, your computer can still be used to mine cryptocurrency. The hackers get free power and you get a sluggish device that could overheat.
Remember, Intercept X has the capability to block most cryptomining attacks – one more way Intercept X is ahead of the curve with emerging threats.
Watch the Nightly Business Report segment below: