Cryptocurrency is encrypted data that signifies a unit of currency. Cryptocurrencies are not issued by governments or financial institutions like physical money. There are over 700 cryptocurrencies, but Bitcoin is by far the most popular.

Cryptocurrencies are created and secured through a process called “mining.” Mining involves using a network of computers or specialized hardware to process and validate cryptocurrencies.

Cybercriminals favor cryptocurrency because it is untraceable, which is why ransomware often demands payment in bitcoin. As cryptocurrencies have gained acceptance—and value—hackers have also focused on finding ways to get users to unknowingly mine them.

Mining cryptocurrencies takes a lot of computing power. By creating malware that uses victims’ computers to do the work for them, cybercriminals reduce their own investment of time and hardware. As a result, hackers are devising more forms of cryptocurrency mining malware.

Because a device infected with mining malware suffers a considerable reduction in performance, it is important to protect your device against infection. Update your device with patches as soon as they become available, and enable your firewall and encryption.

Employers should have a frank discussion on whether workplace participants should be allowed to access Messenger or Facebook on employer devices or networks. If neither provides a work-related value, employers should consider not allowing access. 

Digmine can only target a victim’s Facebook friends if the user account is set to “log in automatically.” Disabling that feature and typing in your username and password every time you log into Facebook or Messenger will help stop Digmine from spreading.