{"id":76192,"date":"2018-08-17T02:00:24","date_gmt":"2018-08-17T09:00:24","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=76192"},"modified":"2019-11-07T02:34:38","modified_gmt":"2019-11-07T02:34:38","slug":"report-fraudulent-monero-mining-generates-100k-per-month-for-hackers","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/report-fraudulent-monero-mining-generates-100k-per-month-for-hackers\/","title":{"rendered":"Report: Fraudulent Monero Mining Generates $100K Per Month for Hackers"},"content":{"rendered":"<p>A German university released a cryptocurrency mining-centric report, Aug. 14, noting a rise in revenue generated by illegal mining software, despite the fall in \u201ccryptojacking.\u201d<\/p>\n<h2>Coinhive Faces the Heat Again<\/h2>\n<p>As <a href=\"https:\/\/www.digitaltrends.com\/computing\/monero-miner-coinhive-makes-250k-each-month\/\">reported by Digital Trends,<\/a>\u00a0RWTH University\u00a0in Aachen, Germany, has presented a detailed account of the infamous, browser-based miner Coinhive being used to produce over $250,000 worth of Monero (<a href=\"https:\/\/cryptoslate.com\/coins\/monero\/\">XMR<\/a>) per month for attackers, as per trading value\u00a0<a href=\"https:\/\/cryptoslate.com\/coins\/monero\/\">denoted by CryptoSlate<\/a>\u00a0at the time of writing.<\/p>\n<p>Developed to be a social good, the Coinhive miner was initially introduced to crypto-enthusiasts to allow them to exchange their extra computing power for access to mine the Monero network. The code, however, targets websites seeking to make money without advertisements, meaning a user's computer will slow down while it generates coins in exchange for ad-free viewing.<\/p>\n<p>Hackers, meanwhile, have configured\u00a0Coinhive to send a user's mined Monero to their own digital wallets by hacking websites and secretly installing the code. They are also plugging Coinhive into legitimate-appearing browser extensions.<\/p>\n<p>Interestingly, the Coinhive miner accounts for 1.8 percent of Monero\u2019s hashing power, with a majority of mining incentives realized for nefarious purposes.<\/p>\n<p>The report noted:<\/p>\n<blockquote><p>\u201cIf we sum up the block rewards of the actually mined blocks over the observation period of four weeks, we find that Coinhive earned 1,271 XMR.\u201d<\/p><\/blockquote>\n<p>At the time of writing, Monero is trading at $89.28, signifying a $113,474 profit for hackers in a month of fraudulent mining. Meanwhile, Coinhive developers receive over 30 percent of this amount for providing their tools.<\/p>\n<h2>Only 10 Addresses Getting Rich<\/h2>\n<p>The research also claims that only 10 wallet addresses received a chunk of the fraudulently mined Monero. In this regard, attackers are using a \u201cshort link\u201d service to redirect advertisements to their servers and paying a commission to website administrators.<\/p>\n<p>The report explained:<\/p>\n<blockquote><p>\u201cWith Coinhive, the creator of the short link receives a share of the block reward that is mined by the users visiting the short links.\u201d<\/p><\/blockquote>\n<p>For research purposes, the university team ran a \u201cWebAssembly\u201d script to detect web-based mining software running on the internet. Scan results showed a clear dominance of Coinhive, which accounted for 75 percent of mining usage. Comparable scans include\u00a0<a href=\"https:\/\/authedmine.com\/\">AuthedMine<\/a>, <a href=\"https:\/\/www.wp-monero-miner.com\/\">WP Monero Miner<\/a>\u00a0and <a href=\"https:\/\/crypto-loot.com\/\">CryptoLoot<\/a>.<\/p>\n<p>The JavaScript-based Coinhive proves to be an easy target for hackers around the world due to its choice of programming language, and attackers have deployed the open-source mining software to a diverse range of victims\u2013including government websites, corporations and even the <a href=\"https:\/\/badpackets.net\/large-cryptojacking-campaign-targeting-vulnerable-drupal-websites\/\">San Diego Zoo<\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A German university released a cryptocurrency mining-centric report, Aug. 14, noting a rise in revenue generated by illegal mining software, despite the fall in \u201ccryptojacking.\u201d Coinhive Faces the Heat Again As reported by Digital Trends,\u00a0RWTH University\u00a0in Aachen, Germany, has presented a detailed account of the infamous, browser-based miner Coinhive being used to produce over $250,000 [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16041,2376],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - 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