Web-based Cryptomining Detection

A drastic surge on the cryptocurrency market of late 2017 and early 2018 lead to development and widespread implementation of web-based cryptomining. Initially providing a valid alternative to a regular advertisement-based forms of monetization, cryptomining quickly became a novelty form of malware by silently executing in the background without obtaining explicit consent from a user, an activity later became commonly known as drive-by mining or cryptojacking. To solve the issue of timely detection and prevention of cryptojacking, a number of in-browser solutions were developed, but neither of these achieved an absolute efficacy in eliminating targeted cybersecurity issues. This paper, provides a brief overview for this relatively newform of malware, analyzes technology used for browser cryptomining defined by two evolutionary phases of cryptojacking, and the financial reasoning behind this phenomenon. By examining the steps and stages of web-based cryptomining and distinguishing potential detectable characteristics, this paper attempts to outline possible preventive anti-malware approach that can be developed as a counter-measure to this online threat.