Crypto Mining Service Coinhive to Call it Quits
Summary: Coinhive, a cryptocurrency mining service that security firms ranked as the top malicious threat to Internet users in March 2018, announced it would cease operating on March 8, 2019, with earnings dashboards accessible until the end of April. The service took a 30 percent cut of all Monero mined by its code, and after a KrebsOnSecurity investigation it changed its platform so it no longer kept 100 percent of currency mined by sites tied to invalidated keys; Monero fell from an all-time high of $342 per coin in March 2018 to under $50 at the time of the announcement.
Key Takeaway: Coinhive's minimum payout of .02 Monero, roughly $1.00, means accounts that mined below that threshold forfeit their earnings to the company - a business model that persisted even as the service shut down.
Read the original at Krebs on Security ↗
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