A cybersecurity company Vectra recently published a report detailing an alarming surge in cryptocurrency mining activities on college campuses. The report verifies that opportunist students, malicious hackers and even the cryptocurrency scripts hosted by various websites are the sapping roots from various universities all over the world to the freely mined virtual currencies.
An analysis was conducted from August 2017 to January 2018 which has now concluded that higher education is the largest source that is exhibiting the cryptocurrency mining attacks and behaviours throughout the globe. According to the Vectra’s report, it has been observed that among all the mining attacks 85 percent of the attack behaviours are identified across all the industries originated from higher education institutes. The rest of the section is followed by Entertainment and Leisure which is 6 percent, Technology 3 percent and Financial Services which is also 3 percent.
The report also highlights the facts that the number of computers which are processing the cryptocurrency hashes in different college campuses witnessed an increase before the price of the bitcoin had a rise over $4000 USD in the year 2017. After this, even when the price of the bitcoin falls to 50% of the peak, there was no declination in the number of the computers performing cryptocurrency mining in the campuses.
An 18-year-old student from Western Kentucky University, Joey Dilliha recently told the media in an interview he left Bitmain Antminer which was running in his dorm room through which he used to make a profit of $30 every week. And as per his notation, there must be a huge number of people who must be doing the same. He said that it is one of the funniest, super cool and cheap way of introducing crypto mining into the market. He also stated the fact that his college was reluctant towards this and did not permit his mining activities. He used to turn off the lights and put on the blanket over his body in the dorm room in order to do this mining activity.
Stanford University issued a notice in January mentioning a sharp increment in the number of incidents involving crypto mining activities. The notice was a means of generating a reminder for the students of the Stanford University that as per the university’s policy the resources provided by Stanford were not liable to be utilised for personal financial gain. Such activities are prohibited in the campus and using university’s resources for such mining activities is against the policies and strict actions would be taken further if anyone is found guilty.