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Monero [XMR] – Most popular among malware groups?

Priyamvada Singh

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Monero [XMR]: Most popular among malware groups?
Source: Pixabay

Palo Alto Network, a global cryptosecurity platform, has concluded after a research that about 5% of all Monero is mined illegally. This accounts for an estimate of 15.9 million XMR. Cryptomining via malware or cryptojacking is simply the act of using a computing power of a system without its user’s awareness and permission. This lets cyber-criminals generate a large sum of cryptocurrency through cryptomining.

According to Kaspersky Labs, a single botnet for cryptocurrency mining can bag a cyber-criminal more than $30,000/month. It is also found that 2% of all hashing power to mine Monero is generated by mining malware communities.

A Twitter user says:

“So I guess the real percentage is a lot higher if #cryptojacking was included?”

To which, another Twitterati replies:

“Yes, it would be higher. If you look at Coinhive’s hashrate from September 2017 (last and only time it was published) — it was 13.5 MH/s. While we can’t say all of it’s due to cryptojacking, we know a large portion of it is.”

In recent past, there was a talk of Coinhive, a JavaScript miner for the Monero Blockchain being injected into a malicious java code to run a cryptojacking attack. A security researcher named Troy Mursch investigated the matter and found out that Coinhive was running in the background on several governmental and university websites without anyone’s knowledge.

Since Amazon and USA were the common host and location of the most affected websites respectively; Mursch suggested Drupal as a major factor in comprising the security of these sites.



Monero’s added privacy features and anonymity are the apparent reasons for the coin to become the prime target of cryptojackers. Apart from the vulnerable Amazon devices, Android phones and tabs are believed to be exposed to the threat. An oddly slow device can mean that its computing power is secretly being used up in mining Monero!

As the risk of cryptojacking ascends, there are smart preventive measures that can minimize this risk. An ad-blocking or anti-cryptomining extension can detect cryptomining scripts to protect a device from such malware. Using antivirus products that have included endpoint protection to detect crypto miners can be another combative tool to ensure cyber security.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon

Arijit Sarkar

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH enjoys the bullish trend while TRX tries to join the bull wagon
Credit: Pixabay

The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.

Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend

Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market

Relative Strength Index: The token continued to be traced across the overbought zone.

Tron [TRX] 1-Day

Source: TradingView

Resistance 1: $0.0308

Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.

MACD: The MACD line over the the reading line and suggested a bullish market for TRX

Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market

Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market



Conclusion

Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.





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