Japanese authorities have arrested 16 people suspected to be involved in an ongoing cryptojacking case.
Cryptojacking is basically the act of hi-jacking a computer and program it to mine cryptocurrencies for the benefit of the hacker. It’s a popular crypto crime all over the world that can target anyone that does not have the proper security programs on their devices.
The 16 arrested individuals have allegedly installed malware on their victims’ computers. The malware then triggered the crypto mining process. The suspects run their own websites that would spread different crypto mining malware to whoever stumbled upon them.
One crypto mining malware the suspects have used is the Coinhive program which mines Monero (XMR).
The suspects are all men aged from 18 – 48. They have earned a lot of money from exploiting their victims with the largest amount of money they earned reaching 120,000 ($1,084.80). However, the cryptojacking suspects were found to have been earning only 70% of the total they mine. 30% of the cryptocurrency mined goes to Coinhive.
Since its launch in 2017, Coinhive has made its name as one of the most popular Monero mining and cryptojacking tools. Computers may be targeted through popular websites including government websites, university websites, and even YouTube!