Monero (XMR) Again Comes In The Spotlight

This time, the reputation of Monero is ruined by the hackers and cybercriminals, and according to a research, XMR is now considered the world’s illegally mining cryptocurrency.


According to the recent research paper, Monero is again seen in the illegal crypto mining actions. Moreover, Sergio Pastrana recently releases this report from Universidad Carlos III de Madrid and Guillermo Suarez-Tangil.

Monero XMR is the influenced digital asset with its total supply worth 4.3% mining as illegal. Also, the analysis says that hackers are utilizing computer resources to perform illegal mining. The reports initiate by elaborating about crypto mining criminally includes hijacking the user system resources.

They can accomplish this through crypto programs via web browsers or specifically malware that can easily penetrate online that too for a low price. During 2017 &  2018, there are 4.4 million worth malware samples that are identified along with 1 million worth miners.

Sadly, the reputation of Monero sinks badly due to its token classification as the most susceptible digital asset to cybercrime around the space. As per the study, 4.32% worth circulating Monero XMR supply is illegal. Also, this average percentage transform in revenue of around $57 million. The paper further reads:

Our profit analysis reveals campaigns with multi-million earnings and illicit mining. We analyze the infrastructure regarding different campaigns, with a high proportion support by underground economies- Pay-Per-Install services. We uncover novel techniques letting criminals to run successful Campaigns.

Also, Read Monero Recent News:

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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