Coinhive Takedown

Coinhive, the Crypto mining service that offered web developers a JavaScript library to mine the Monero cryptocurrency, has announced that it is to shutter the service on 8 March 2019. The site quotes its reason for the shutdown as:

The drop in hash rate (over 50%) after the last Monero hard fork hit us hard. So did the “crash“ of the crypto currency market with the value of XMR depreciating over 85% within a year. This and the announced hard fork and algorithm update of the Monero network on March 9 has lead us to the conclusion that we need to discontinue Coinhive.”

Whatever the reason, I for one am pleased this service is being shuttered. A lot of malicious webpages invoked the Coinhive JavaScript in their websites, which mined Monero cryptocurrency without asking for permission from the viewer (cryptojacking).

Some web sites started mining crypto currency using Coinhive as a way to monetise their sites in the face of falling advert revenue and the widespread use of Ad Blocker extensions. There was also a variant of this called ‘Authedmine’, which asked the user for permission before it started mining using Coinhive which I think is also shuttering (I will test this later in March and report back if this is not the case). However, most web users don’t realise what this is.

Full story over at Bleeping Computer.

Headline image provided by ShutterStock

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