Coinhive’s seemingly evil nature stems from those who use the code. It’s meant to be integrated into websites to tap into the unused portions of your processor and mine digital Monero coins in the background.
Released in 2017, Coinhive’s code targets websites that want to make money without running annoying advertisements. The tradeoff is that your PC slows down while it generates digital coins in exchange for ad-free viewing.
But hackers are taking advantage of Coinhive’s potential by breaking into websites, secretly installing the code, and configuring Coinhive to send the resulting Monero to their digital wallets. They are also inserting Coinhive into web browser extensions that appear legitimate on the surface.
“If 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,” the report states. “Similar to other cryptocurrencies, Monero’s exchange-rate fluctuates heavily, at time of writing one XMR is worth $200, having peaked at $400 at the beginning of the year.” At the time of this publication, the worth of a single Monero digital coin (XMR) dropped to $82. Read more from digitaltrends.com…
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