WebCobra Malware Uses Victims’ Computers to Mine Cryptocurrency

The rise of cryptocurrency has resulted in a number of concerns. Yet while regulations and cryptocurrency hacks seem to be the primary worries, a new threat known as “cryptojacking” has entered the picture.

Cryptojacking is an illegal process in which hackers hijack a users computing power to mine for cryptocurrencies, like bitcoin and monero. Funds are then sent to the hacker in control of the software.

Computers infected with cryptojacking malware run much slower, and often victims are not even aware that their computers are being attacked, as “coin mining” malware is difficult to detect. Once a machine is compromised, a malicious app runs silently in the background with just one sign: performance degradation. As the malware increases power consumption, the machine slows down, leaving the owner with an unwelcome bill, as the energy it takes to mine a single bitcoin can cost anywhere from $531 to $26,170.

And while cryptojacking is a relatively new threat, a recent…