Illicit Cryptocurrency Mining Poses Threat to the Legitimacy of Cryptocurrencies

Illicit cryptomining has risen in 2018 and has been a serious threat to the legitimacy of cryptocurrencies. Crypto mining is defined as the authentication of a transaction made and the addition of it to the digital blockchain ledger. Hackers have been exploiting code in the 2017 software to create illegitimate transactions and add value to their respective cryptocurrency.

This has been up 459% in 2018 according to a Cyber Threat Alliance (CTA) report, but the spike is tied a NSA leak about the aforementioned code. The code from the mining software was stolen from the NSA by hacker group “The Shadow Brokers.” The group has released the methods and tools used in that hack for public consumption. Microsoft has publicly stated that the 2018 version is safe in effort to calm concerns and the NSA has not commented. This a growing concern for many who use cryptocurrencies and according the CTA, report rapid growth in this kind of behavior is not going to slow down.

1 Comment
  1. Johnson G. 1 year ago

    hacking into computers and integrating a virtually invisible mining app is getting more common than you think

Leave a Comment