Do Charging Stations Benefit from Cryptojacking? A Novel Framework for Its Financial Impact Analysis on Electric Vehicles

Asad Waqar Malik and Zahid Anwar ()
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Asad Waqar Malik: Department of Computing, National University of Sciences and Technology (NUST), Islamabad 44000, Pakistan
Zahid Anwar: Department of Computer Science, North Dakota State University (NDSU), Fargo, ND 58105, USA

Energies, 2022, vol. 15, issue 16, 1-15

Abstract: Electric vehicles (EVs) are becoming popular due to their efficiency, eco-friendliness, and the increasing cost of fossil fuel. EVs support a variety of apps because they house powerful processors and allow for increased connectivity. This makes them an attractive target of stealthy cryptomining malware. Recent incidents demonstrate that both the EV and its communication model are vulnerable to cryptojacking attacks. The goal of this research is to explore the extent to which cryptojacking impacts EVs in terms of recharging and cost. We assert that while cryptojacking provides a financial advantage to attackers, it can severely degrade efficiency and cause battery loss. In this paper we present a simulation model for connected EVs, the cryptomining software, and the road infrastructure. A novel framework is proposed that incorporates these models and allows an objective quantification of the extent of this economic damage and the advantage to the attacker. Our results indicate that batteries of infected cars drain more quickly than those of normal cars, forcing them to return more frequently to the charging station for a recharge. When just 10% of EVs are infected we observed 70.6% more refueling requests. Moreover, if the hacker infects a charging station then he can make a USD 436.4 profit per day from just 32 infected EVs. Overall, our results demonstrate that cryptojackers injected into EVs indirectly provide a financial advantage to the charging stations at the cost of an increased energy strain on society.

Keywords: connected vehicles; cryptojacking; battery life; financial impact (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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