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Monero (XRM) Becomes a Victim of Malware Mining

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Monero Mining Malware

Monero unwillingly became a part of another fiasco, after a short crisis of having the majority of currencies trading in the red for a couple of days as a part of the latest market trend.

Even though we can see a great portion of currencies going up while acquiring minor rises after approximately four days of trading in the red with the plummeting market, Monero can’t seem to take a breath as it is trading in the red.

Although there are a couple of top coins that are also going down in the market as well as Monero in the current moment, XRM might have a solid good reason for having its value going down while trading in the red – the most recent case of malware mining that was discovered to the public a couple of days ago.

Monero Gets Victimized by a Mining Malware

A security researcher, named Troy Mursch, has recently announced that there was a mining malware program known as Coinhive, ravaging the mining pool of Monero. Apparently, the researcher has discovered suspicious activity related to Monero’s mining pool, which made Mursch believe that there was something wrong. Unfortunately, he was right about the existing issue.

The malware known under the non-suspicious name of Coinhive has been noted while creeping around over 400 websites that the malware used for illegal activities related to mining XRM.

The mining malware was actively hunting for victims across the list of websites that would be naturally considered to be safe for visitors and users, so the affected websites were web spots like San Diego Zoo and Lenovo. However, the list of affected sites goes even further.

For full transparency of this case and to notify all potential victims, Mursch has also released the list of affected websites where the activity of the initial mining malware was noted during the research.

What might be a terrifying case about having this mining malware actively disrupting Monero’s mining system is the fact that the majority of the affected websites were related to government and education, which made all the affected parties deeply unsuspecting considering that these websites have high authority on Google, presumably having a good solid security as well.

Another interesting thing regarding this case of crypto jacking is the fact that the most of the affected websites were all hosted by Amazon web hosting services, so Munsch could presume that the mining malware could find its way around security due to the outdated Drupal, which is an open-source CMS platform.

Munsch further added that he was able to trace the malware called Coinhive as it could be found in the JavaScript library. He further discovered that the malware was implemented into the system if the infected sites in the same manner, so it is presumed that the fault lies in the outdated Drupal.

Although the spotted malware isn’t malicious for the affected user in the form of disrupting the computer system of the victim, it is forcing the victim into using its CPU for mining Monero without the victim being aware of the fact.

Now that the malware has been spotted, the mentioned websites are working on preventing this problem in the future, while the price of XRM is dropping, partially due to this most recently discovered case of malware mining Monero.

How is Monero doing at the Current Moment?

After having the majority of the circulating currencies going up against the dollar after dropping for around four days in a row, the market seems to be collectively plummeting once again.

In addition to having the majority of currencies dropping once again with rarely having any of the top coins going up against the dollar, Monero is following up with the trend, which means that XRM is going down in its price as well.

After the latest change in the market, XRM has gone down for -13.9% (in last 24 hours) against the dollar while trading in the red at the time of this writing on May 10th.

Following the latest change in the market, Monero can be currently purchased at the price of 200.088$ per one unit. Monero set its all-time high back at the beginning of January when this currency could be traded at the price of around 494$, trying to break the value of 500$ in which it failed once the market dip took place a couple of weeks later.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Christoph Scholz via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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