Tech 6 months ago

Dennis Wafula

Coinhive at center of cryptojacking probe in Japan

Criminals in cryptocurrency mining pools struck again, this time preying on unsuspecting computer owners in Japan. According to reports, police in Japan are investigating a cryptojacking case that involves Coinhive. So far, three suspects have been arrested.

According to local reports, police discovered the suspects had set up websites that installed Coinhive, a Monero mining software, on visitors’ computers without the owner’s knowledge. Investigators said most of the computer owners did not notice the change until their computers started acting up.

One of the three suspects is a web designer, who authorities said has been ordered by the Yokohama Summary Court to pay a fine of JPY100,000 (US$904) for illegal placement of the computer virus. The group reportedly set up the virus in 2017. According to Japanese laws, citizens are banned from using computer viruses, especially installing them on peoples’ computers without their consent. One of the defendants, however, told the court that the software not a virus but a method of traffic monetization similar to online ad distribution. The three individuals are waiting to go to trial at the Yokohama District Court

According to officials handling the matter, the case might be pursued criminally making it the first criminal case involving cryptocurrency mining in Japan.

Created in 2017, Coinhive targeted many unsuspecting computer owners and used their CPU power and electricity to mine Monero. It mostly targeted unsuspecting visitors of government websites, YouTube and university websites. Software security firm Check Point described Coinhive as the “most wanted malware” in the world.

Installing malicious malware also dubbed as cryptojacking has affected 55 percent of business all around the world. Due to the high cost of cryptocurrencies mining, some miners have focused on illegal ways such as installing software on users’ computers to gain access to their processing power and electricity.

Last week, officials of the county of Khabarovsk, Russia, noticed cryptojacking activities on the county government’s website. According to reports, miners hacked the system to gain access to users processing power. Users were redirected to a malicious website, which, in turn, launched mining software on their computers without their knowledge. This operation went on for 10 days unnoticed before authorities finally caught up with them and shut down the malicious operation.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

COMMENT

Add a Comment

lastest news

Blockchair adds BSV block explorer

Tech 18 hours ago

Blockchair adds BSV block explorer

Bitcoin SV (BSV) is developing as anticipated, not missing a single beat. The only cryptocurrency that understands why digital currency was developed is gaining ground and has begun to garner more public support. The latest ...

Read More
Samsung moves deeper into blockchain, adds crypto wallet to S10

Tech 19 hours ago

Samsung moves deeper into blockchain, adds crypto wallet to S10

Tech giant Samsung is no stranger to innovation. It has always been on the front lines and has developed, among other products, the world’s most popular brand of cell phones. When blockchain technology was starting ...

Read More
New York Media integrates blockchain in publishing platform

Tech 1 day ago

New York Media integrates blockchain in publishing platform

New York Media, whose sites include New York Magazine and Slate, is collaborating with Po.et, a blockchain protocol for creative content management. According to a press statement, the partnership will involve integration of blockchain technology ...

Read More