Use of Botnets for Mining Cryptocurrencies

Abstract

This chapter explores the threats that malware, specifically, botnets pose to the mining of cryptocurrencies. The reader will be introduced to the history of botnet-inspired threats, operational mechanisms of botnets, and an in-depth look at significant botnets that have attacked cryptocurrencies. The chapter looks at countermeasures in terms of detection, prevention, and thwarting. It presents implications for growing cryptocurrency usage and therefore, increasing exposure to various security threats, both organized and unintentional, on botnet black markets, Internet-of-thing devices and from unsuspecting users. The chapter describes a general overview of the consensus operation in cryptomining and shows how threats to the consensus mechanisms could affect the cryptocurrency mining process. It provides an overview of the consensus mechanism in cryptomining and significant threats posed by botnets to the consensus mechanism.