Cryptocurrency mining, while a popular and potentially lucrative endeavor, is strictly prohibited when it comes to using resources from the University of Michigan (U-M). This includes both university-owned devices and personal systems that utilize university electrical or network resources. The only exceptions to this rule are for research or coursework that has received explicit approval from faculty.
Understanding Cryptocurrency Mining
At its core, cryptocurrency mining involves the process of validating transactions for digital currencies and adding these transactions to a public ledger known as the blockchain. Miners engage in this activity not only for the sake of maintaining the integrity of the currency but also to earn transaction fees and additional cryptocurrency. However, this process is highly demanding, requiring significant computational power and consuming large amounts of electricity.
University Policy on Resource Usage
U-M has clear guidelines regarding the use of its resources. According to the Responsible Use of Information Resources (SPG 601.07), university resources cannot be utilized for personal commercial endeavors or for financial gain. Furthermore, the Statement of Student Rights and Responsibilities emphasizes that students must adhere to university computer policies. As such, any mining activity that falls outside the scope of approved research and coursework is strictly forbidden.
The Risks of Cryptocurrency Mining
Engaging in cryptocurrency mining can expose both individuals and the university to numerous risks:
- Performance Impact: Mining can significantly slow down the performance of systems that are meant for legitimate academic and administrative use.
- Security Vulnerabilities: Cryptocurrency mining can create opportunities for attackers to exploit vulnerabilities within the system.
- Increased Costs: The energy and processing demands of mining can lead to higher electricity bills and computing costs.
- IT Resource Drain: IT staff may be required to dedicate time and resources to troubleshoot issues stemming from unauthorized mining activities.
- Data Privacy Risks: Unauthorized mining activities can jeopardize university data and individual privacy.
Malware and Mining Threats
Another significant concern associated with cryptocurrency mining is the potential for malware. Cybercriminals often employ phishing tactics to lure victims into clicking on malicious links that unknowingly install mining software on their systems. In some cases, websites may harbor code that activates mining operations on visitors’ devices without their consent, manifesting only as a noticeable decline in computer performance.
Protecting Yourself and University Resources
To safeguard both personal devices and university resources, it is crucial to remain vigilant. If you suspect any unauthorized cryptocurrency mining activities on university systems, it is imperative to report it as a potential security incident. Additionally, adopting IT security best practices can help protect your personal devices:
- Keep all software and applications updated.
- Avoid clicking on suspicious email links.
- Be cautious when opening shared documents or email attachments.
For more guidance, it is advisable to familiarize yourself with resources related to phishing, device security, and safe internet practices.
