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Hackers Mine for Crypto-Coins on IoT Devices

May 07, 2018 / Kacy Zurkus

Cybercriminals looking to purchase malware are frequent flyers on dark web forums. Often, nefarious actors are in search of the attack that will deliver the greatest gains, which is why it might come as a surprise to learn that many criminals are rolling the dice on crypto-jacking connected devices. Growing in popularity are cryptocurrency-mining malware activities that target the internet of things (IoT), according to Trend Micro. Crypto-malware is a quick way to make money by mining for cryptocurrency on a victim's computer. Traditionally, PCs have been the target of crypto-jacking because the criminals are able to leverage the central processing unit (CPU) of the targeted computer to mine for crypto-coins. The very idea of mining for cryptocurrency on a connected device seems almost fruitless given that the devices themselves use far less power. "The computing power of smartphones and IoT devices is much lower than that of servers or even laptops," said Trend Micro. St...