Report: 5% of all Monero in circulation was mined by malware

Monero, the privacy-oriented coin valued at $2B, is a favorite of cyber thieves for allowing anonymous transactions and relying on CPU mining, which is available on PCs and susceptible to widespread hacking, as opposed to GPU or ASIC mining.

A new report from Palo Alto Networks, that tracked Monero malware and mining pools, shows that 84% of crypto-mining malware samples target Monero and that approximately 5% of all the Monero in circulation was mined by crypto hackers, garnering a total total of more than $100M in income. The report adds that 2% of the current Monero hash rate comes from miners.

Recently mining giant Bitmain released Monero-specific ASICs to make CPU mining obsolete, but Monero developers hard-forked the chain to render the ASICs useless. At least one winner from the hard fork is the hackers, who can easily change their code to keep mining on hacked PCs.

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