The sudden spike in Monero-based crypto-miners didn't go unnoticed at the time. Trading a nearly $500, Monero became just too hard to ignore by that point, and several criminal groups decided they wanted a piece. However, crypto-mining malware never became a huge thing until late 2017 and early 2018, when cryptocurrency prices skyrocketed to record levels, and when Monero reached its maximum trading value of $480.
In the beginning, malware operators deployed Bitcoin-based crypto-miners, but as Bitcoin became harder to mine on regular computers, they started shifting towards many of the other altcoins.ĭue to its anonymity-centric features, Monero slowly became a favorite among cybercriminal gangs. History of crypto-mining malwareĬrypto-mining malware first became a threat in the early 2000s, when Bitcoin started to become popular. Starting with the end of May, the number of reports detailing crypto-mining campaigns published by cyber-security firms has exploded, with a new report published each week, and sometimes new campaigns being uncovered on a daily basis. These are criminal operations during which hackers infect systems with malware that's specifically designed to secretly mine Monero behind the computer owner's back. This recovery in XMR trading price has resulted in a spike in the activity of Monero-based crypto-mining malware operations. The currency also referred to as XMR, has gone down from an exchange rate that orbited around $300 - $400 in late 2017 to a meager $40 - $50 at the end of 2018.īut as the Monero trading price recovered throughout 2018, tripling its value from $38 at the start of the year, to nearly $115 over the summer, so have malware campaigns. Monero, the cryptocurrency of choice of most crypto-mining malware operations, was one of the many cryptocurrencies that were impacted by this market slump. The primary reason for this sudden resurgence is the general revival of the cryptocurrency market, which saw trading prices recover after a spectacular crash in late 2018.
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