Bitcoin Cryptojacking Attack Forces University to Disable Entire Network

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Cryptojacking attacks use malicious tools designed to hijack vulnerable systems to stealthily mine for cryptocurrency in the background using crypto mining software without the consent or knowledge of the victims.

This type of attack has become a lot more attractive to threat actors because of the lesser amount of effort needed for compromising vulnerable systems, as well as the considerable higher payoff an extensive network of coin miners could bring.

Following the security breach incident and the complete shutdown of the network, the university's IT Services is currently working on bringing back all shutdown servers and services back online using a staggered approach to minimize all potential risks.
"On Thursday, ITS, in consultation with security specialists, purposefully disabled all network systems in response to what we learned to be to be an automated attack on our systems known as ‘crytpocoin mining," says St. Francis Xavier University's press release.

Source: https://news.softpedia.com/news/bitcoin-...3646.shtml