As a business leader, you probably had at least glancing worries about an employee doing personal work on business time, or lifting supplies from your stockroom. That’s a drop in the bucket compared to the latest trend: company servers mining crypto.
Crypto currency has had a long association with cyber crime because it is the payment method most often requested for ransomware and other cyber attacks. Crypto mining refers to the process by which new crypto currencies enter into circulation. If you have a large server with lots of bandwidth and high speed internet, “mining” allows you to earn crypto currency without having to pay for it.
There are, of course, legitimate uses for crypto currency and legal ways to mine it. But, increasingly, companies are finding the crypto mining is occurring on their servers, like a background process — taking up the resources your business needs to operate. Some companies even add servers and other infrastructure to improve performance, not realizing that it’s the crypto mining that’s eating up their server capacity.
The problem has become so widespread that Norton 360 recently built crypto-mining into their antivirus software as an “opt-in,” feature (users have to agree to enable it). A simple vulnerability assessment by a trusted provider can also bring this to light.
Immediate Effects of Servers Mining Crypto
It’s easy to install and then monitor and manage crypto mining software. Add to that the fact that this software eats up tremendous amounts of electricity and bandwidth for which the company pays. Potentially this could slow down other network operations that are needed to run your business.
Take a hard look at the IT team personnel who have access to your network. If they are authorized and can install unauthorized software, you might need to get your HR department involved.
Vulnerability Is a Large Threat
Any unauthorized software installed on your network puts your system at risk, even if it isn’t the intent of the mining software. The larger threat of someone crypto mining on company servers is that it leaves a cybersecurity gap on your network that makes you vulnerable to malware attacks.
If you suspect one or more of your employees is using company servers for mining bitcoin, consider a vulnerability assessment to find out. Contact us to learn how Convergence Networks can help.
