Monero Top Coin For Crypto Criminals, 5% of Total Supply Lost to Malware

Cryptocurrency mining malware took over from ransomware and other forms of malware last year as the top scourge of the internet. It comes as no surprise that Monero is still the coin of choice for crypto criminals looking to pilfer resources from the unsuspecting masses. According to a new study from Universidad Carlos III de Madrid and King’s College London, cyber criminals have used malware to mine 4.3% of the entire supply of XMR. “Our profit analysis reveals campaigns with multi-million earnings, associating over 4.3% of Monero with illicit mining,” the report claimed. The two researchers who conducted the study could not ascertain what proportion of this Monero has already been cashed out. They did put a figure on it though which is no small sum; “Although this depends on when criminals cash-out their earnings, we estimate that the total revenue accounts for nearly $57M USD. These measurements exceed (and…

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