News Insights: Coinhive cryptojacking service to shut down in March 2019 | ZDNet

Coinhive cryptojacking service to shut down in March 2019 | ZDNet

Coinhive wanted to be an alternative to classic banner ads but it became malware after constant abuse.

FULL ARTICLE: Coinhive cryptojacking service to shut down in March 2019 | ZDNet

News Insights:

According to Tyler Moffitt, senior threat research analyst at WebRoot, “Would you continue to operate a startup business in which all the money you made was just a 30% cut of criminals stealing from victims in the form of an increased power bill? Maybe a year ago when the hashing difficulty was easier (you earned more XMR) and XMR was worth 10x more, it might have been easier to “sleep at night,” but now it probably just isn’t worth it. Even before this news, there were plenty of copy cats, so criminals will continue to use other services. I anticipate that Cryptoloot, CoinImp, JSECoin will take larger shares of the cryptojacking attack now that the largest player has left. We might even see a new competitor service emerge.”

He added, “Cryptojacking has been out over a year now, so people are aware of it and know how to block it. But the way they’re blocking it with browser add-ons is very rudimentary. As this threat evolves and criminals start to obfuscate the domains, those add-ons will become obsolete and real-time threat intelligence will be the only effective way to block cryptojackers.”

Webroot released its Annual Threat Report today. Key findings include: Cryptojacking sites represent a significant percentage of the malicious URLs seen by Webroot. Additionally, while cryptojacking declined slightly throughout the year, there were still more than twice as many cryptojacking URLs found between September and December 2018 than were found each month of the first half of the year.