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2026-03-17T08:43:09Z

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💻 '''Cryptojacking''' is a form of [[Definition:Cyber attack | cyber attack]] in which an unauthorized party hijacks computing resources — servers, endpoints, cloud instances, or even IoT devices — to mine cryptocurrency without the knowledge or consent of the device owner. In the insurance context, cryptojacking sits within the broader category of [[Definition:Cyber risk | cyber risks]] that [[Definition:Underwriting | underwriters]] must evaluate when pricing [[Definition:Cyber insurance | cyber insurance]] policies, and it presents a distinctive challenge because it often operates covertly, causing financial harm through elevated electricity costs, degraded system performance, and accelerated hardware wear rather than through the dramatic data exfiltration or ransomware encryption events that typically trigger [[Definition:Insurance claim | claims]] notification.

🔧 Attackers deploy cryptojacking malware through multiple vectors: phishing emails containing malicious scripts, compromised websites that execute browser-based mining code, and exploitation of vulnerabilities in cloud infrastructure or container environments. Once active, the mining code runs in the background, consuming CPU and GPU cycles to solve cryptographic puzzles that generate cryptocurrency — typically privacy-focused coins like Monero — deposited into the attacker's wallet. For businesses, the most immediate impact is a spike in computing costs, particularly for organizations running workloads on metered [[Definition:Cloud computing | cloud]] platforms where resource consumption translates directly to billing. Detection can be delayed for weeks or months because the malware does not typically encrypt files or steal data, meaning it may not trip the same alarms that a [[Definition:Ransomware | ransomware]] incident would.

🔎 From an insurer's perspective, cryptojacking complicates [[Definition:Cyber risk quantification | cyber risk quantification]] because the losses are often diffuse — higher utility bills, reduced system availability, possible breach of cloud service agreements — rather than concentrated in a single dramatic event. Whether a cryptojacking incident triggers coverage under a [[Definition:Cyber insurance | cyber policy]] depends on the specific wording: some forms require unauthorized access or a security failure, which cryptojacking may satisfy, while others focus narrowly on data breach or [[Definition:Business interruption insurance (BI) | business interruption]] triggers that cryptojacking may not clearly meet. As a result, [[Definition:Underwriting | underwriters]] and [[Definition:Claims adjuster | claims adjusters]] must pay careful attention to policy language, and brokers should proactively discuss this exposure with clients — especially those with significant cloud infrastructure or large fleets of networked devices.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Cryptojacking coverage]]
* [[Definition:Cyber insurance]]
* [[Definition:Ransomware]]
* [[Definition:Cyber risk quantification]]
* [[Definition:Cyber attack]]
* [[Definition:Cloud computing]]
{{Div col end}}

Definition:Cryptojacking - Revision history

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