Featured, India

Indian Cryptocurrency Market Hit By Cryptojacking Malware

Indian cryptocurrency market has been hit by a malware and hackers who are making magic internet money off of their websites. The government might have reservations against cryptocurrency but with no regulatory board and laws, they are inadvertently providing aid to the security breaches.

According to the Economic Times, it is stated that several government websites are among hundreds of Indian websites that are being used to mine cryptocurrency. The recent update has been reflected through an analysis done by security researchers. The malware which is dubbed as cryptojacking is a kind of unauthorized access done to mine cryptocurrency from someone else’s computer. This is done by sending a malicious link in an email which loads crypto mining code on the system if it is clicked. The JavaScript code will keep running in the background of the system that will mine cryptocurrencies using up computing power without their permission.

More About Cryptojacking Malware

Security researcher, Indrajeet Bhuyan, stated that hackers intend towards government websites for crypto mining as there is much higher traffic and they are trustworthy. He also added that earlier there was hacking of websites but injecting malware has become the latest trend to make money.

Indian cryptocurrency market is flourishing with such digital scams and the list of such websites is pretty long.

Such vulnerabilities were first identified by a team of Guwahati-based security researchers Anisha Sarma, Bhuyan and Shakil Ahmed on the government websites of Andhra Pradesh. They found three websites injected with the malware one of which sees approximately 160,000 hits every month. (Via Coin Desk)

In a recent update it is revealed that despite acknowledging the cryptojacking malware by the government officials, there were some websites which continued running with the JavaScript code. It remains unknown about how long the malware ran on the websites along with the amount of crypto mining.

Keep reading to find out more about cryptojacking malware and Indian cryptocurrency market.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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