Hacker CryptoJacking Smartphones to Mine Monero and Bitcoin - Monero News, XMR Price Chart. Friday, August 24

Important Monero Cryptocurrency News

Hacker CryptoJacking Smartphones to Mine Monero and Bitcoin

Although these are digital currencies requiring considerably sophisticated miners and substantial electricity, hackers have discovered another way of mining Bitcoin and Monero through smartphones by installing malware in apps that the owners of the phones install. This was recently revealed by the web security company ESET.

The security experts said that these hackers are exploiting smartphones in mining these cryptocurrencies by embedding malicious crypto mining programs in them. These programs then mine for the hackers sending earnings to their address without the knowledge of the phone owners.

Although this may barely be noticed by the owner, it bears significant risks of slowing down the phone or reducing its lifespan. 

An IT expert Gerome Billois said that for a phone to be ensnared into having these malicious programs installed, an internet server would first be entrapped and the malware designed to mine from a victim’s phone installed on it.

Monero Plans Bulletproof Protocol

A cyber security outfit Kudelski Security has already concluded an audit on the new Monero Bulletproof protocol meant to enhance the speed of transaction and the privacy of the Monero network. 

The Monero team has been working hard and reports show that it is close to including Bulletproof to the main Monero protocol. Three different audits were funded by the Monero community and the first of the three has been concluded. 

Two other audits will be conducted by a cyber security company Quarkslab and Benedikt Bünz, a Ph.D student in Applied Crypto. Bulletproofs are zero-knowledge proofs that ensures that even the amount of XMR sent b y the sender across the Monero network is concealed. This is another way Monero, the premier privacy coin has raised the bar further.

In a blog post, the Monero team wrote that Bulletproof represents a huge advancement in transactions across the network in terms of saving space, better verification times and lower fees.

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