Monero is fighting against the increase in security breaches related to the extraction of private money. The malware working group Monero presented in recent days a new website dedicated to the training of users on cryptocurrency and how to identify the ransomware and malware linked to crypto-jacking, or when criminals take control of the computing power of a user to extract the XMR coins.
The Monero team said in a blog post:
"The Monero community condemns this malevolent and non-consensual use of equipment to mine …. However, the Monero community does not want to remain watching while the victims struggle to understand the impact of mining and ransomware. victims have no idea what are mines and Monero. "
Cyber Crime in the Rise
In addition to Monero, bitcoin is another cryptocurrency addressed by software viruses. XMR, however, boasts privacy features, which makes it easier for hackers to get away with criminal activities without being tracked down. Meanwhile, in some cases, website visitors have the ability to allow scripts to extract XMR using their computing power. It is a way for participants to support the site they are visiting, such as Slate.com.
CCN has reported that according to computer security giant McAfee Labs, criminal activity involving digital currencies is on the rise, as the crypto-jacking claims are increasing by nearly 90% in the second quarter. Since the beginning of the year, crypto-jacking instances are even more alarming at over 450%.
The rise of blockchain and cryptocurrencies has brought great promise, but it is also exposed to risks and vulnerabilities that accompany growing attention. Monero's decision to inform users about some of these vulnerabilities will help ensure the longevity of cryptocurrency as the number of cases in which hackers exploit the computing power of a user decreases.