Monday, March 4th 2019

Coinhive Closing up Shop March 8th in Wake of Monero Forks, Crypto Crash

Remember Coinhive, one of the most negative faces of crypto currencies to ever grace the world wide web? The platform, which allowed for websites (or malicious players) to inject web pages' code with cryptocurrency mining algorithms that hijacked visitors' CPUs to mine the privacy-focused Monero cryptocurrency has announced they are shuttering their doors (and services) on the 8th of March. The company cites changes to Monero's rewards and has rates declines following some hard forks, as well as overall crypto market value being down, with Monero having deprecated some 85% since the website put its code up for grabs.

For companies and/or users that used Coinhive's code to mine Monero with other users' systems - usually, without their consent or knowledge - have until April to withdraw any earnings they have amassed. After that, it's all gone. It's quite obvious that this was only one of the first manifestations of wrongly-designed cryptomining, but then again, some users will always take advantage of these sorts of tools.
Sources: Coinhive (Unsafe Warning), via Tom's hardware
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7 Comments on Coinhive Closing up Shop March 8th in Wake of Monero Forks, Crypto Crash

#1
R-T-B
There are opensource alternatives that will pay direct to a wallet. Never understood why coinhive was so popular...
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#2
Bones
Now all the rest of crypto needs to follow suit........
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#3
yakk
Yup, not using open source software is just asking for trouble.
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#4
R-T-B
Bones said:
Now all the rest of crypto needs to follow suit........
Crypto isn't centralized like a business, thus it won't happen.
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#5
15th Warlock
The repercussions from the cryptomining craze are still being felt by the whole PC industry, both AMD and Nvidia have paid the price of betting on it, and gamers around the world were taken along for the ride.

My only hope is this "industry" continues to exist on an ASIC only basis, and no one ever tries to use gaming based hardware to make money out of thin air, driving gaming hardware prices to crazy high levels again...
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#6
nickbaldwin86
Good riddance... to them and the rest of crypto gangs
Posted on Reply
#7
xorbe
> deprecate

Depreciate, in this usage, as far as I know.
Posted on Reply