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Last year, cryptocurrency malware took over ransomware and other forms of malware as the highest Internet scourge. It is not surprising that Monero is still the currency of choice for cryptic criminals who seek to steal resources from the unsuspecting masses.
According to a new study by the Universidad Carlos III of Madrid and the King & # 39; s College of London, cybercriminals have used malware to extract 4.3% of the entire supply of XMR. "Our profit analysis reveals campaigns with multimillion-dollar earnings, which account for more than 4.3% of Monero with illicit extraction," the report said.
The two researchers who conducted the study could not ascertain what proportion of this Monero has already been collected. They put a figure on it even if it is not a small sum;
"Although this depends on when the criminals cash out their earnings, we estimate that the total revenue accounts for almost $ 57 million dollars.These measurements exceed (and complete) estimates from parallel work focused on browser-based cryptography",
The pair has analyzed about 4.4 million malware samples over a 12-year period since 2007 and has identified over one million malware cryptosers. The document mentioned a relatively low cost and a high return as the main success of the illegal crypt extraction. He added that there was a lower threat to users and that antivirus companies paid little attention.
He added that regular changes in job testing algorithms could deter criminals because of the constant need to upgrade mining software. The study revealed that a common approach to the spread of malicious software was to use a legitimate infrastructure such as Dropbox or Github. Mining tools and online services were also prevalent.
Bitcoin has become the second most popular cryptocurrency for my illegitimately, but its popularity has declined over the past three years, due to an increase in hashrate and difficulty. Furthermore, the extraction of Bitcoins on home computers is no longer viable, so criminals have switched to ASIC-resistant coins such as XMR and BCN. Zcash finished third, but had a fraction of the total compared to Monero and Bitcoin. The Monero community has tried to tackle the problem, but with little success.
Last year alone saw a 4000 percent increase in mining malware with most flowing into Monero. Even in the midst of a long-standing market, illicit encryption and browser hijacking are still evolving to evade detection, and botnets are ready to take off again. Monero may be down 88% from his ATH, but this has not deterred some cyber criminals.
