Crypto Mining Malware Has Plummeted Since Coinhive Closure
Along with crypto prices, mining malware has also tanked
recently but not because of the bear market. According to new research the
chances of your browser being hijacked are far lower now that one major crypto
scourge has gone offline.
Cyber security firm Malwarebytes has revealed that crypto
mining attacks have plummeted by 79 percent compared to the same time a year
ago. The report
added that the primary reason for the decline was the closure of Coinhive last
“Marked by the popular drive-by mining company CoinHive shutting down operations in early March, consumer cryptomining seems to have gone the way of the dodo. Detections of consumer-focused Bitcoin miners have dropped significantly over the last year and even from last quarter,” it added.
Coinhive allowed webmasters to install a script that would harness the computing resources of anyone viewing the website, often without their knowledge. This would enable them to make a little extra revenue by mining Monero on the sly. As Coinhive grew, antivirus companies started blocking the scripts which became hugely popular in 2017 and 2018.
Since then however Malwarebytes has said that numbers have
fallen dramatically; “We went from tens of millions of blocks to an
estimated two million per day,” the firm told PC Mag. Coinhive announced
its demise in February this year citing the ongoing bear market and increased
difficulties in mining Monero due to the latest XMR hark fork. Similar research
suggests that the profitability in Monero mining has fallen significantly along
with its prices. At the time of writing XMR was trading at $62, a long way down
from its peak of almost $500.
A number of similar scripts have since appeared that emulate
Coinhive. Instead of targeting compromised websites new versions such as
CoinIMP and CryptoLoot are using torrent portals or file hosting services. In
February a fake
version of Metamask was found lurking on the Google Play Store. According
to security firm Check Point, Coinhive scripts could be revived if crypto
prices skyrocket again;
Ledger Detects Desktop Malware
In a related story crypto wallet provider Ledger has detected
malware that targets its desktop application. The firm warned users that the
malware replaces the genuine software with a malicious version that asks for
users to enter their 24 word passphrase after a bogus update.
At the time only Windows machines appeared to be infected
and the malware does not mine or steal cryptocurrency. It attempts to use
social engineering to lure users into giving up their passphrase.