Digital Pickpockets: A Research Journey Into The World Of Cryptojacking

Madhavan S, BA LLB., [Hons] School of Excellence in Law

Smrithi Anilkumar, BBA LLB., [Hons] School of Excellence in Law

ABSTRACT

The popularity of cryptocurrency & its mining has also led to its unauthorised use resulting in cryptojacking which is a major cybercrime threat. The Initial part of the study looks at the several ways that cryptojacking is carried out as well as how to stop it. The later section of the study focuses a lot on the legal ramifications in different nations as well as previous instances of cryptojacking. Finally, the research also examines the difficulties encountered & offers suggestions for overcoming these difficulties.

INTRODUCTION:

The year 2009 marked the entry into the world of cryptocurrencies since the birth of bitcoins. Since then, the digitalization and modernization of the world have mushroomed the use of several other types of cryptocurrencies, like Zcash, Ethereum, and Monero. Cryptocurrencies are well-encrypted digital currencies that have the facility for end-to-end transaction tracking without any tangible transactions.1 The utilization of blockchain technology, which combines several computer programs and processing capabilities, is enabling the creation and trading of cryptocurrencies.

The investors in this cryptocurrency seek to make quick money by processing strong transactional data for the blockchain network through the so-called cryptomining business. Since most users cannot afford the cost of standardized or specialist equipment for mining, creative solutions to streamline the procedure and lower the required computational cost have been devised.