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Browser Based Mining Software CoinHive Mints $250,000 Per Month

Browser Based Mining Software CoinHive Mints $250,000 Per Month

Coinhive Crypto Mining
According to research by the Rhine-Westphalian Technical University of Aachen, CoinHive’s crypto currency miner extracts $ 250,000 each month in the Monero crypto currency using the power of other people’s computers.

Monero accounts for 75% of all the mining in browsers, and in most cases it’s just about using the JavaScript-based CoinHive miner. When a user visits a specific site, the XMR mining process begins, with only the side that built the mining software into the page. According to the developers of the service, the technology allows the creators of sites to do without advertising, but in fact, most often remote malining is resorted to by intruders.

Also, as a result of the research, it became known that for mining with the help of CoinHive accounts for 1.18% of all the capacities of the Monero network. Reports suggests that coinhive already accumulates 30% of all XMR coins that’s mined daily. The CoinHive script is built into almost 2 million active short links.

Most of all, it’s worrying that the lion’s share of all profits goes to only ten users.

How to protect yourself from hidden miners

News about cryptography appears with frightening regularity: it was recently reported that 200,000 routers in Brazil were used for covert mining , and that’s already 30% of commercial firms in the UK suffered from such manipulations. When this problem is solved, it is still unknown, but security expert Troy Mursche recommends using a JavaScript-based software called minerBlock , which detects attempts to “draw” the computer to a remote mining and blocks dangerous links.

We have to admit that we are at war with a new cyber threat, which, as research shows, turns out to be very profitable for intruders.

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