According to a report by Skybox Security, illicit cryptocurrency mining or cryptojacking has become more popular among cybercriminals than ransomware.
When cryptojacking is updated in the mid-year, then according to the firm, crypto miners can account for 32 percent of all cyber-attacks, with ransomware for 8 percent.
Basically, cryptojacking utilizes the code hidden on devices or websites which is harnesses to victims' computing resources like their central processing unit as well as bandwidth to mine cryptocurrencies.
The report also reveals that the preferences of cyberattackers while choosing tools for their illegal trade.
Further, in the second half of 2017, the situation was almost reversed which leads that ransomware attacks in the data on an individual's computer which is encrypted by malware and only unlocked upon payment of a fee.
It is said that the main reason for the swap in popularity is due to the decline in cryptocurrencies at the end of last year as well as ransomware model was seeing diminishing returns. It happens when victims stopped paying up on reports that data was not being decrypted as promised.
The company also stated that -
“Cryptocurrency miners may be the new kid on the block, but they're taking over. With high-profit opportunity and a low chance of being discovered or stopped, this malware tool provides a money-making safe haven for cybercriminals.”