Varun Kohli, a leading strategist working for Google has come out and said that number of incidents of cryptojacking is increasing across the world.
Cryptojacking or using someone else’s computer to for mining cryptocurrency, mostly remotely, is a chronic issue plaguing the online community. The issue is particularly troublesome in areas where a lot of computers are directly connected in a Local Area Network (LAN) like tech companies and university campuses.
Google strategist Kohli, while speaking on a session on ‘Disruptive technologies of bitcoins, Artificial Intelligence (AI), and Machine Learning’ in Kochi India, was of the opinion that cryptojacking was swiftly replacing other moves by hackers like Denial-of-Service attacks (DoS).
While the DoS are much more drastic in appearance, the cryptojacking attacks are much more subtle as they use nothing but the device’s computing power to mine cryptocurrencies.
Kohli focused on Monero cryptojacking and said:
“Monero worth around USD 18.50 million is on circulation, and some people say that 5% of it is being earned through Cryptojacking. At present, a single Monero is valued at around USD 20-25 taking the earnings through Cryptojacking somewhere in the range of USD 4 million.”
According to Kohli, one can fall victim to cryptojacking while accessing an infected website. While the creator of the cryptocurrency is not liable for these and individual users are, the threat of cryptojacking remains a thorn in the issue of global hacking among internet users. Kohli is betting on AI to help solve some of these problems.
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