Monero is a cryptocurrency that has been amidst many controversies time and again. One of the biggest accusations faced by the ecosystem is the frequented instances of crypto-jacking via its mining software, Coinhive. A week ago, Monero announced the launch of a website that educates users on how to remove Monero mining malware from their systems, hence securing it from attacks and illegal mining.
The blog titled ‘Introducing the Monero Malware Response Workgroup Website’ discussed how the privacy feature of Monero helps many but is also exploited by criminal groups. Justin Ehrenhofer, a member of the Monero ecosystem and the author of the blog wrote:
“While restricting mining to specialized equipment largely eliminates malicious mining, it doesn’t eliminate ransomware, and it introduces security compromises that the Monero community is not comfortable with. […] he Monero community does not want to sit idly by as victims struggle to understand the impact of mining and ransomware.”
This announcement is not the only positive news floating around the cryptocurrency space for Monero. Recently, the cryptocurrency mining company ViaBTC announced the launch of a Monero mining pool wherein they relaxed the mining fees by 50% for the first three months.
Monero is the most highlighted among the privacy coins in the cryptocurrency space. Many oppose the privacy feature of the coin as it compromises the safety of the users and can be exploited by cybercriminals. To give a user an added privacy, the transactions use ring signatures. This ensures that the details of the transactions, such as the addresses of the parties involved and the amount transacted are hidden and untraceable on the network.
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