Report: 16 Persons arrested for Monero Jacking in Japan

Coinhive has been installed by Japanese hackers on the websites with weak security to mine Monero - a privacy coin, what makes it harder to catch criminals
17 June 2018   1527

A number of profile websites have been suffered from cryptojacking. This year eralier, Tesla’s website was applied by hackers in order to mine Monero with Coinhive. A bug in Drupal lead to 300 sites became infected with Coinhive, including the websites of San Diego Zoo and the government of Chihuahua. As declared in the official report of UK’s National Crime Agency (NCA), the issue is not going away in the near future:

Popular websites are likely to continue to be targets for compromise, serving cryptomining malware to visitors, and software is available that, when run in a webpage, uses the visiting computer’s spare computer processing power to mine the digital currency Monero.
National Crime Agency, the UK

The Japanese authorities have made significant progress in case of cryptojacking. Last week, it was displayed that the Japanese police was examining 3 suspects using Coinhive to run mining scripts in many sites surreptitiously. The recent report from local publication The Asahi Shimbun claimed that the police have now captured 16 persons from 10 prefectures for cryptojacking, aged between 18 and 48. The suspects had conducted their own websites, that they allegedly applied to transfer programs to the visitors of their site for mining digital money without the consent of the users.

All suspects, except one, had used Coinhive. The one person had created his own program, very similar to Coinhive and he has been detained on suspicion of making a computer virus. Although Coinhive is free to install, it processes on a 70/30 model. Only 70% of the Monero mined goes to the website operator, and the remaining 30% goes to Coinhive developers.

The individuals that had only set Coinhive on the websites they owned and not on the hacked sites, were arrested nevertheless as they did not get any permission from their visitors to mine cryptocurrencies.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   135

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.