Coinhive browser miner will stop working …

Coinhive browser miner will stop working …

Coinhive browser miner will stop working on March 8 due to economic inexpediency

Coinhive browser mining service, which allows website owners to install JavaScript software to mine Monero cryptocurrency using visitors’ power, will cease operation on March 8.

“Some of you may have been waiting for this, some may be surprised. Decision is made. We will stop the service on March 8, 2019. Over the past 18 months we have been actively working on this project, but, frankly speaking, it is no longer economically viable, “the developers said..

As the reasons for their decision, they point to the latest hard fork of Monero, which led to a 50% drop in the network hash rate, and a decline in the XMR rate..

“The decrease in hash rate (by more than 50%) as a result of the last hard fork of Monero hit us hard, as did the fall in the cryptocurrency market – during the year the value of XMR fell by 85%. These factors, as well as the hard fork and algorithm update of the Monero network, scheduled for March 9, led us to the decision to stop working on Coinhive, ”the message says..

Users will automatically lose access to the cryptocurrency mining service, but will still be able to enter the command panel to make transfers. “Thus, mining will not function after March 8, 2019. Access to the command panel will be open until April 30, 2019, thanks to which you can order payments if your account balance exceeds the minimum limit “.

Coinhive browser miner will stop working ...

While the developers claim to have “had a great time” with all the users of the service, Coinhive has earned a dubious reputation for being used for stealthy cryptocurrency mining, essentially helping unscrupulous website owners and hackers steal resources from unsuspecting users. The code written by the Coinhive team was often integrated into more complex malware packages capable of carrying out an attack along several vectors at once..

Cybersecurity researcher Troy Mursh found that at some point, Coinhive scripts were used to mine $ 250,000 a month XMR and were found on “62% of all websites using JavaScript-based crypto miners.”.

Coinhive browser miner will stop working ...

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