PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Cryptojacking Attacks Appear Quaint Compared to Other Account Takeover Scenarios!

By Tim Sloane
October 16, 2018
in Analysts Coverage, Cryptocurrency, Digital Assets & Crypto
0
3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
cryptojacking

cryptojacking

This PaymentSource article indicates that cryptomining viruses skip right through traditional virus detectors. The idea that criminals are simply stealing cpu cycles to mine crypto currencies appears quaint compared to others that steal payment credentials and leak personally identifiable information:

“Cryptomining attacks can be surprisingly hard to detect with slower performance and increased latency potentially going unnoticed for extended periods of time, and even when variations are noted, they can be mistakenly attributed to other causes.

Undetected for extended periods of time, the attacker can lay cryptomining scripts for future malware or ransomware attacks. This can create quite a bit of work for an organization to find all these infections, eradicate them and prevent the attacker from returning.

All too often, the first indicator of compromise is from a sharp spike in CPU usage versus a detection of the actual attack.

Regrettably, antivirus solutions, firewalls, secure web gateways and URL filtering cannot reliably detect cryptominer code and have proved ineffective at preventing it from auto-executing within endpoint browsers. Attackers are also now increasingly targeting IoT devices, which may not have the same level of security controls available or applied.”

These viruses can get expensive when a cloud instance is high jacked. For example, this article from Dome9 indicates that one cloud GPU instance, the p3.16xlarge, costs $24.48 per hour which can add up if the virus isn’t detected quickly. This same article provides some common sense prevention techniques all of which are identical to protecting implementations from account takeover attacks.

Given the malicious environment we live in today, I’d count my blessings if the only problem I had after an account takeover was a slow system, a large bill, and a richer criminal. As miserable as this would make my life it’s sure better than losing millions of payment credentials and personally identifiable information – so stay vigilant!

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CryptocurrencyFraud Risk and Analytics

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    healthcare payments

    The Healthcare Payments Industry Has a Perception Problem

    June 10, 2026
    continuous KYC

    The Future of KYC Is Layered—and Data-Driven

    June 9, 2026
    tokenized deposits

    As Crypto Challengers Emerge, Banks Turn to Tokenized Deposits

    June 8, 2026
    physical digital debit

    Whether Physical or Digital, Debit Cards Are a Payments Mainstay

    June 5, 2026
    agentic commerce

    Separating Hype from Reality in Emerging Payment Trends

    June 4, 2026
    agentic commerce

    Searching for Trust in Agentic Commerce

    June 3, 2026
    stablecoin

    Stablecoin Success Will Depend on More Than Technology

    June 2, 2026
    A man standing outdoors uses a cryptocurrency trading app on his smartphone. This represents mobile finance, freedom, and real-time investing.

    How Gamification Helps Drive Engagement in Digital Banking

    June 1, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result