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Home > HP Inc. > An IT Manager's Guide: Cryptojacking, The Threat To Business and How to Protect The Network

An IT Manager's Guide: Cryptojacking, The Threat To Business and How to Protect The Network

White Paper Published By: HP Inc.
HP Inc.
Published:  Jul 03, 2019
Type:  White Paper
Length:  7 pages

While Bitcoin took a bit of a beating in August 2018, it did little to dampen interest in the obviously volatile cryptocurrency market. Bitcoin lost 20 percent of its value in just two weeks in August, according to some reports, and yet there appears to be substantial optimism in the currency. According to one report, there were 96 new crypto hedge funds launched in the first seven months of 2018 and when the Turkish Lira plummeted 20 percent in August 2018, there was a surge in Bitcoin trading. Cryptocurrency is clearly here to stay and while that may whet the appetite of brave investors, itís also a magnet for crime.

Unsurprisingly perhaps, hackers are targeting cryptocurrency exchanges but what many businesses and individuals may not realize is that there is serious money to be made in actually performing admin functions for the currencies themselves. Called cryptomining, it can be big business. Some reports have suggested that profits from mining have hit over $4 billion between 2017 and 2018. It is an industry in itself that has spawned a range of applications dedicated to the process.

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