Infamous browser based mining company, CryptoLoot has announced a new update today… and they had a little something to say to the Antivirus industry.
“[Antivirus companies] are using scarcity tactics to boost clickthrough rates, and sell you their antivirus products. “Cryptojacking” just sounds scary, doesn’t it? That’s what we call clickbait, fellas.” from Crypto-Loot.com
It’s true. Scarcity tactics are amongst one of the most effective forms of marketing. Ever wonder why every online shop you visit has a sale “ending” within the next few hours? Be the first “10” and receive a 50% discount? Scarcity sells. But are Netsec blogs truely promoting anti-technology propaganda in-order to feed their own agenda?
“Even if [CryptoLoot] is abused by some of our users, by not informing their userbase that they’re using their computers to help mine Monero, really? Using 10 cents per month of extra electricity is the new malware? Software that stops running when you close the website? Malware? You know you’re comparing us to software that private information such as banking details, pictures, and used to take down large websites/networks? That’s cute.”
Well, it’s clear they’re fed up with the Netsec industry.. Especially with this tweet:
— Crypto Loot (@CryptoLootMiner) May 26, 2018
It is certainly arguable of how legitimate many users of this software use it for. That being said, should browser mining be labeled malware? It’s true, most malware actually infects a computer and is there until removed. Malware is typically used to launch DDoS attacks or steal personal information to benefit the “bot master“. CryptoLoot was rated as December 2017’s second most wanted malware and has held this position over the months. With Kaspersky even blocking access to it’s users to CryptoLoots main website, what is it that really makes CryptoLoot a Malware?
With more digging, we were able to find a bunch of websites calling browser mining, something a little different… “Cryptojacking” is the term Netsec blogs seem to use to describe services like CryptoLoot and CoinHive. Sounds like they’re breaking into your computer and stealing your hard-HODL’d cryptocurrencies doesn’t it? Well, luckily – it appears they’re not doing anything alike.
Browser based mining services use code in-order to utilize a partial amount of your unused resources to mine a specific cryptocurrency. In this case, the cryptocurrency is Monero. The idea is supposedly to be to rid of pesky forced popups, and provide credits to users for specific services. Seems like a pretty interesting piece of technology.
As mentioned in their article, this is fairly new technology. People are scared of change, specifically big companies with money to lose (or profit). It’s no doubt such a revolutionary invention is attracting so much controversy. It seems about right. The big guys are trying to stop the small guys before they even get started… but it doesn’t look like they’re doing quite well.
According to reports, browser mining has effected up to over 55% of businesses and is used on over 500 Million websites.. And you know what happens when you can’t beat something, right? You join it! It will not be surprising to see these infamous Netsec blogs start adopting this controversial piece of software as their own.
What’s your thoughts on “Cryptojacking”? Is it really, so evil? Or is it in-fact what it’s supposedly intended to be, for good?
Source article: https://crypto-loot.com/news