Cryptojacking is an attack where a hacker targets and hijacks your computer systems with malware that hides on your device and then exploits its processing power to mine for cryptocurrency — such as Bitcoin or Ethereum — all on your dime. Their mission is to create valuable cryptocurrency with your computing resources.
The best defense against Cryptojacking attacks is authenticated vulnerability scanning to identify vulnerabilities and then regular and rapid patching. The Cyber Essentials standard states that patching should be conducted within 14 days of a patch being released, as we agree.
Detection is simple. If you have a well established monitoring program or are using a SOC, then they will detected the malware as a last resort. They should also be informing you in good time of vulnerabilities present in the environment.