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DEFI(NE)

Heard on the Block: “cryptojacking”

Snacks / Thursday, July 27, 2023

🤫 Like torrenting hundreds of movies using your neighbor’s WiFi…

Crypto mining at scale these days involves warehouses full of specialized chips cooled by whirring fans or complex immersion baths. Instead of investing in that pricey setup, hackers install mining software on unsuspecting victims’ computers. The process, known as “cryptojacking,” makes schools, libraries, or financial firms bear the costs of mining. 332M+ cryptojacking attacks were spotted in the first half of this year — nearly 5X more than all of last year.

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.