The Danger in Mining Dogecoin and the Other Cryptocurrencies

You’ve read a lot about mining Dogecoin and the other cryptocurrencies and you have done great research on how to mine Dogecoin. However, there is one thing (or too many) that you should consider before starting mining dogecoin or the other cryptocurrencies. Here is a piece of important Dogecoin news that you cannot see everywhere on the internet. 

Mining Dogecoin

If you have done your research on mining Dogecoin sufficiently, you are aware that you need some extra tools, or at least a good performing computer to mine dogecoin. All this technological infrastructure and transaction should bring another question to our minds; is it safe to mine dogecoin? 

Data safety and DNS security are the main concerns affected by the process of mining.

DNS Security in Mining Coins

According to the Cisco DNS Security Report, cryptocurrency mining-based malware affected about 70 per cent of customers in 2020. About 90 per cent of companies encountered a situation where at least one user attempted to connect to a phishing site. 70 per cent were exposed to malicious browser ads and 51 per cent to ransomware-related activities.

Cisco published its “DNS Security” report, which analyzes malicious DNS activities and threats that took place during last year. It has been found to affect 70 per cent, generating a large number of malicious DNS traffic and consuming valuable computing resources.

In 2020, when security issues become extremely important to everyone, DNS Threat Analysis, handling 620 billion DNS requests worldwide each day, was the most common of nearly 90 per cent of companies between January and December 2020. It found that fewer users encountered a situation in which they attempted to connect to a phishing site, mostly through clicking an email link.

Of course, this is not only limited to mining Dogecoin but includes the other cryptocurrencies such as Bitcoin, Ripple, Litecoin, etc.

Other findings regarding DNS activity were as follows:

Users in 75 per cent of companies were exposed to browser ads that are malicious. Besides, 51 per cent of companies faced activities related to ransomware. 48 per cent of the companies detected malicious software activity aimed at stealing information. The report of DNS Security highlighted the threat trends cryptocurrency mining companies faced during 2020 and was most likely to continue this year. 

It had to be underlined that this dangerous situation also applied to mining Dogecoin.

The number of DNS activity in associate with password harvesting has remained stable during the year, except in December, when it increased by 52 per cent during the holiday season. August and September saw significant increases in the number of endpoints visiting phishing sites.

On the whole, while phishing has increased significantly, more endpoints have started clicking links in phishing emails. One reason for this was the massive phishing campaign that Cisco observed a 102 per cent change between the middle of summer and September.

Trojan Horse

The Trojans had a strong start this year as well. Because of IcedID and  Ursnif / Gozi, the threats that are known to work together in the production of ransomware, an incredible number of endpoints have been connected to Trojan horse sites. These two threat sources alone accounted for 82 per cent of the threats seen in the last days of January 2020.

Another banking Trojan horse responsible for the massive increase in DNS activity from August to September was Emotet. A total of 45 per cent of the companies encountered Emotet.

Ransomware

Sodinokibi and Ryuk were the two prominent ransomware during the year.

Starting in the middle of spring, the number of computers captured by Sodinokibi (aka REvil) increased dramatically and kept going to rise into the fall. As a result of this significant increase, 46 per cent of companies faced this threat. The total number of queries originating from this ransomware in September, more than up to four times the value in August, may indicate that ransomware was running on lots of the affected systems.

Ryuk is Mostly Responsible for the Inactivity

Significant differences stand out between the two important threats in the quantity of money reported that each of the threats tried to leak from victims. While Sodinoki messes with more endpoints and demands a relatively small ransom, Ryuk infects fewer systems and demands a much larger ransom.

While the interest of people increased in how to mine dogecoin or the other coins, everyone should be careful of these threats. Mining Dogecoin may be less-popular than mining Bitcoin, it does not mean that it has less danger.

“Nobody is alone”

Commenting on the report, Cisco Middle East and Africa Region Cyber ​​Security Director Fady Younes said: “Today, the idea of ​​’no one is alone’ applies to threats as well. The most common attacks these days take advantage of a wide variety of threats at different stages.

When you find a threat on your own network, it would be wise to investigate what threats are working with it and take appropriate action to prevent them from creating further danger. “

Here are some other Dogecoin news on our web site that you may interest;

SEE ALSO: DOGECOIN AND THE TRANSFORMATION OF THE MARKET

SEE ALSO: DOGECOIN MINING AND DIFFEREND METHODS

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Caroline Tetra

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