The rise in cryptocurrency prices since March has accompanied a wave of crypto attacks, according to a new study by cybersecurity firm Symantec.

According to the company, browser-based crypto activity increased 163% in the second quarter of 2020. Cryptojacking has been in sharp decline since March 2019 due to the shutdown of CoinHive, the script miner.

Symantec notes that last quarter’s surge coincided with a surge in the value of Bitcoin (BTC) and Monero (XMR), two cryptocurrencies that are often mined by threat actors based on browser-based malware.

Cryptojacking was very active from September 2017 to March 2019 and became one of the most common forms of cyber attack. In 2019, however, the CoinHive project is said to have become economically unprofitable. According to the announcement, the mining service ceased operations on March 8, 2019. Among the reasons for the shutdown, the developers found a 50 percent drop in the hash rate after Monero’s last hard fork.

During an interview with Cointelegraph on Aug. 1, Josh Lemos, vice president of research and intelligence at BlackBerry, said that crypto miners don’t have to be sophisticated and can be delivered in several ways:

“From running JavaScript on a website as a watering hole attack or embedded in a phishing email to supply chain attacks involving miners embedded in docking agent hub images and malicious browser extensions.”

However, in a recent report, ZDNet stated that the current surge in attacks is unlikely to continue.

“Most of the cybercrime groups that have attempted cryptojacking in the past usually give up after weeks because they also find that browser-based cryptocurrency mining was too time consuming, noisy, and focused more on their own operations than profits . “

Source: CoinTelegraph