{"id":25815,"date":"2019-03-03T16:20:02","date_gmt":"2019-03-03T16:20:02","guid":{"rendered":"https:\/\/packetstormsecurity.com\/news\/view\/29886\/Coinhive-Closes-Its-Doors.html"},"modified":"2019-03-03T16:20:02","modified_gmt":"2019-03-03T16:20:02","slug":"coinhive-closes-its-doors","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/coinhive-closes-its-doors\/","title":{"rendered":"Coinhive Closes Its Doors"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.scmagazine.com\/wp-content\/uploads\/sites\/4\/2018\/07\/cryptocurrency1_1367351-5.jpg\" class=\"ff-og-image-inserted\"\/><\/div>\n<div class=\"wysiwyg\">\n<p>The popular in-browser cryptomining service Coinhive will shutter operations next week, claiming the service isn\u2019t economically viable anymore.<\/p>\n<p>The Monero mining feature offered any website a \u201clegitimate\u201d way to generate income without relying on online advertisements or revenue by using a small piece of Javascript embedded on a webpage to leach computing power from visiting computers to mine the currency.<\/p>\n<p>Coinhive then kept a percentage of the earnings in exchange for the services that have been used by well plenty of well-known sites, including Showtime, Salon.com and The Pirate Bay, sometimes without informing users.<\/p>\n<p>\u201cThe drop in hash rate (over 50 percent) after the last Monero hard fork hit us hard,\u201d Coinhive said on its site. \u201cSo did the \u2018crash\u2019 of the cryptocurrency market with the value of XMR depreciating over 85 percent within a year. This and the announced hard fork and algorithm update of the Monero network on March 9 has led us to the conclusion that we need to discontinue Coinhive.\u201d<\/p>\n<p>Coinhive explained that dashboards will be accessible until around April 30, 2019, and that users will be will be able to initiate payouts if their balances are above the minimum payout threshold.<\/p>\n<p>Tyler Moffitt, senior threat research analyst at Webroot, said that the\u00a0cryptojacking site represented a significant percentage of the malicious URLs his firm has seen.<\/p>\n<p>\u201cWould you continue to operate a startup business in which all the money you made was just a 30 percent cut of criminals stealing from victims in the form of an increased power bill?\u201d Moffitt said to SC Media. \u201cMaybe 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 \u2018sleep at night,\u2019 but now it probably just isn\u2019t worth it. Even before this news, there were plenty of copycats, so criminals will continue to use other services.\u201d<\/p>\n<p>Moffitt anticipates Cryptoloot, CoinImp and JSECoin will take larger shares of the cryptojacking attack now that the largest player has left and that we may even see new competitors emerge. He added that people have learned to block cryptominers with add-ons but as the threat evolves, criminals will rely more on domain obfuscation, making these methods obsolete.<\/p>\n<\/div>\n<section class=\"post-tags\">\n<h2>Topics:<\/h2>\n<p><a href=\"https:\/\/www.scmagazine.com\/tag\/cryptocurrency\/\" class=\"button -secondary\">Cryptocurrency<\/a> <a href=\"https:\/\/www.scmagazine.com\/tag\/cybercrime\/\" class=\"button -secondary\">Cybercrime<\/a> <a href=\"https:\/\/www.scmagazine.com\/tag\/cybersecurity\/\" class=\"button -secondary\">Cybersecurity<\/a> <a href=\"https:\/\/www.scmagazine.com\/tag\/cyberthreats\/\" class=\"button -secondary\">Cyberthreats<\/a><\/section>\n<p>READ MORE <a href=\"https:\/\/packetstormsecurity.com\/news\/view\/29886\/Coinhive-Closes-Its-Doors.html\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>READ MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":25816,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[60],"tags":[136],"class_list":["post-25815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-packet-storm","tag-headlinecryptography"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coinhive Closes Its Doors 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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