Cyber Threatscape Says Crypto Mining Malware Using Monero (XMR) Will Grow in 2019
Monero [XMR] Remains Superior Choice For Crypto Mining Malware, Trend Will Continue In 2019
It has been unveiled that the use of the Monero token, XMR, will only see new heights moving forward. As per Cyber Threatscape’s reporting, hackers are more likely to conduct illegal activities like implanting a crypto mining malware through the use of XMR, due to its increased privacy and anonymity in transactions. This is not the first of the findings, as Monero XMR has previously been looked down upon for the very same reasons.
Oracle Times took to their platform to break down the results found in the study, and as much as 71 percent of Chief Information Security Officers have since confirmed that cryptojacking is on the rise, calling it a mystery, or as they put it, “bit of a black box”. The major concern with cryptojacking is the fact that such activities aren’t easy to trace. In particular, how the attack will be conducted as well as when it will occur always remains a threat.
According to a report released by Skybox Security, a company devoted to cybersecurity, it was revealed that in just half of 2018 alone, 32 percent of crimes were that of cryptojacking.
If this is the case for 2018 alone, what is the faith of 2019? Based on the Cyber Threatscape report, the number of attacks will only continue to grow, while using such attacks to mine even more XMR tokens. Though this is a mere projection, it doesn’t come of surprise as the notion of traceability seems to be nowhere in sight.
In other words, the combination of privacy, anonymity and the lack of a detailed distributed ledger is what will drive up the Monero XMR supply while attacking more and more computers.