crypto-jacking came up due to the development that cryptocurrency has been fetching since the year 2009
Please describe an instance of which you are aware in which an act of internet crime took place.
Criterion Description Points possible
Content Initial response addresses 5
Word Count 250 Words 5
Response To Participant responds to 10
Classmates two classmates,
and response furthers the discussion,
(e.g., asks a question, provides further
information or examples, or introduces
a different opinion (10points/per posting).
100 words minimum word count for reply post.
Total Points possible 20
The world is changing fast, and technology is something that is on the forefront. With an increasing rate of innovations and storage of data in the cloud and inform of an electronic form, there is a get risk of data being tampered with. When innovators come up with security to block them from getting through the firewalls and retrieve the data. Most companies and organizations have suffered the impact of cyber-crime where their data have been hacked and used inappropriately.
In the United States, the reports of major incidences of cyber-crimes are reported weekly if not daily. This is best evidenced in crypto-jacking that had its rise in 2018. There were numerous security alerts that were provided to the general public so that they do not become victims of cyber-crime that is so rampant. Crypto-jacking in 2018 was so big that it was overtaking one of the big names in cyber-crime types, ransomware. It called for corporates and also individuals to make sure they protect their data. A lot of data penetrations were observed locally and internationally (Eskandari et al., April 2018). This is because Europe was also experiencing the same crypto-currency attack just like in the United States.
Crypto-jacking came up due to the development that cryptocurrency has been fetching since the year 2009. Bitcoin has proved its worth by centralizing the cryptocurrency. Since many people have come to be players in the big game, not everyone who comes in means good for the business. Through this, illegal miners have been in Ina position to retrieve data by hacking the cryptocurrency websites and gotten away with people’s money (Konoth et al, October 2018). It was observed that quite a good number of illegal miners were identified and their accounts were shut down. This was after angry customers raised the alert to the organization. The organization, on the other hand, was not willing to be on the receiving end as the process will scare away its potential customers and the end result would make the organization make losses which will be negative in sustaining itself.