A research paper on mining cryptocurrency malware believes that monero is the most popular cryptocurrency among cybercriminals and estimates that more than 4.32 percent of the entire circus in circulation has been illegally extracted, a bit less as previously provided.
This "broader systematic study of cryptocurrency based on mischievous binary" was conducted by Sergio Pastrana and Guillermo Suarez-Tangil, researchers from the Carlos III University of Madrid and the King & # 39; s College of London. He analyzed "about 4.4 million malware samples (1 million malicious miners), for a period of twelve years from 2007 to 2018".
According to the data collected, Pastrana and Suarez-Tangil conclude: "Using cryptographic malware, the criminals extracted (at least) 4.3% of the moneros in circulation, earning up to $ 56 million, one of the main reasons for the success of this criminal activity is its relatively low cost and the high return on investment. "
Among the researchers' most important discoveries, illicit campaigns using third-party infrastructure are more successful and use simple mechanisms, such as domain aliases, to avoid detection. However, the researchers argue that bringing back illegal portfolios is not a sufficient countermeasure and states that "malignant cryptocurrency is a growing and complex threat that requires effective countermeasures and intervention approaches".