Cryptojacking in India Hits Records

Endy Callahan

Many crypto holders are well aware of the most common problems bothering the entire crypto industry. This sphere is still rather sensitive and there are individuals who find the weakest links in the system and attack those who trust fraudsters and scammers.

Unfortunately, it is not always possible to prevent hackers and cybercriminals from blackmailing crypto owners and those who deal with digital assets on various crypto exchanges and other platforms. Cryptojacking is a serious issue and it is now almost five times more prevalent in Asia. To be more exact, security companies pay attention to numerous cases that have been recently happening across India. As many news agencies report, cryptojacking in India hits all global average figures this year.

No doubt, India is a huge country. Its territory is densely populated and the number of people getting familiar with the crypto industry is increasing at a tremendous speed. The worst thing is that the number of cybercriminals is also rising and all these attackers keep finding new victims.

Such incidents need to be taken under control and managed by the local authorities. The government should take better care of those who trade on crypto exchanges and restrict as well as punish participants who are trying to perform illegal activities and harm the crypto community.

Threat reports announce the most recent data where the public can see what’s going on in India and what level of cryptojacking the country has faced. According to several reports, web users across the country suffer from frequent malware attacks related to crypto mining. Its rate is five times as high as that we see on global and regional scales. This is the area with the second-largest number of attacks. The highest number of mining attacks is still witnessed in Sri Lanka.

How Cryptojackers Function

A crypto mining attack is also known as cryptojacking. That’s an attack where cybercriminals secretly install malware on an individual’s device to use its power to mine crypto. This sort of practice faced a significant downfall since prices for crypto took a hit two years ago.

Official sources claim that these attacks have decreased by forty percent since 2018. Out of every one hundred thousand systems around fifty of them encounter attacks. Much of what is happening depends on the crypto’s price. All sorts of fluctuations make hackers refocus their attempts and efforts.

Markets that cannot boast high cyber awareness become their main targets. They exploit such areas and make full use of the situation and circumstances that help them make huge profits. Even though specialists say that they can see a downtrend in this kind of cybercrime, such instances are still very frequent.

Mass media outlets have recently announced an increase in crypto mining attacks in Mexico – there, customers of cloud networks suffer from hackers. Gangs manage to install mining malware in thousands of enterprise systems. Recent data suggests that approximately eighty thousand devices were attacked and infected by Dexphot last year, one of the names of malware employed for cryptojacking.