About 5% Of Monero Cryptocurrency Are Mined Illegally — Report
Scientists have once again proved that the privacy-oriented Monero (XMR) is one of the most popular digital currencies among hidden miners. At least 5% coins of the entire Monero circulation were mined through cryptojacking, according to a new report.
The researchers at the Charles III University of Madrid and King’s College London found out that over 2200 illegal campaigns are currently active to mine Monero. In total, they have received 720 thousand XMR coins, equal to $38 million at the current average market rate.
The scientists also pointed out one of the cryptojacking operations, listed #623, during which miners received 163 thousand XMRs, or 23% of the total illegally mined coins. The campaign started four years ago and is still going on, and for this period hidden miners misused seven users' wallets.
The report says that by 2018, about a million different hidden miners were discovered on the network. It is noted that malware was most often distributed by the Pay-Per-Install schemes, in which fraudsters pay their executors for providing infected programs for downloading to other users.
Bitcoin became the second “favorite” cryptocurrency of hackers, although the popularity of hidden BTC mining decreased in recent years. The researchers concluded that in some periods fraudsters preferred altcoins. In particular, in 2013–2014, cases of Litecoin and Dogecoin cryptojacking became more frequent. But eventually, miners returned to Monero and Bitcoin.
As previously reported, cases of hidden mining have increased by 400%.