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Cryptocurrency mining is not a new thing nowadays. Most of the platforms have been targeted in one way or the other by these cryptocurrency mining apps. The companies like Google have already banned cryptocurrency mining apps on its platforms to maintain the privacy of the user data on its platform. Now, there are some reports that a new cryptocurrency is in the market which is targeting the uses across India and various other regions in the world.
The new cryptocurrency miner is reportedly targeting the corporate networks in India and several other parts of the world. This report comes from Kaspersky Lab which is a known Russia-based cybersecurity company.
The latest identified cryptocurrency miner is dubbed as PowerGhost. The PowerGhost cryptominer utilizes multiple fileless methods to gain a foothold in the corporate networks discreetly. This suggests that the cryptocurrency miner will not store its roots directly onto a disk, this will make it difficult to detect. This was shown in a study which was published in Securelist, by the online headquarters of the Kaspersky Lab security experts.
It is also suggested that the victims of this attacks so far have been the corporate users based out of India, Brazil, Colombia, and Turkey. The cryptocurrency mining software makes the new coins by using the computing power of a victim's PC and mobile devices. There has been an increase in threat from the cryptocurrency mining software for the users in the recent times. The cryptocurrency mining software now uses ransomware as the main type of malicious software. This data was previously revealed by the Kaspersky Lab research.
With this trend, it will be no longer than the enterprises will be put at risk as the miners slow down the computer networks while hampering all of the business processes filling up their pockets at the same time. The PowerGhost is the best example of how the cryptocurrency mining developers are shifting their attention towards the users with more money. We already have mentioned that the PowerGhost is attacking the corporate networks. The PowerGhost infects both the servers as well as the workstations suggest the reports. This is a major concern which needs to be resolved and we are looking forward to a permanent fix for the issue.