Q. Which of the statement about Cryptojacking is/are correct?
1. Cryptojacking is a cyber-attack wherein a computing device is hijacked and controlled by the attacker and is used to illicitly mine cryptocurrency.
2. Cryptojacking is done to reduce cost of mining of coins of cryptocurrencies by using computing power of hijacked systems.
Select the correct answer using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Explanation: Cryptojacking:

  • Cryptojacking is a cyber-attack wherein a computing device is hijacked and controlled by the attacker and is used to illicitly mine cryptocurrency. In most cases, a malicious programme is installed when the user clicks on an unsafe link, or visits an infected website and unknowingly provides access to their system.
  • Cryptojacking is done to reduce cost of mining of coins of cryptocurrencies by using computing power of hijacked systems. Cryptojacking is hard to detect and the victims mostly remain unaware that their systems have been compromised.
  • According to a report, cryptojacking incidents have increased by 30% in 2022 (first 6 months) compared to 2021.

Source: EPIC August 2022