Crypto-Loot Is A New Service That Helps Websites Steal Cryptocurrency Using Your CPU Power

With the explosive rise in the popularity of cryptocurrencies, the use of digital coins is being seen in every sphere of digital space. This has also created a new revenue source for website owners. While some of them, including The Pirate Bay, have chosen to keep their users in the dark, other are employing innovative methods.

Most of the websites using crypto mining scripts have been using Coin-Hive’s script. Now, it looks like a new player named Crypto-Loot is in the market. First reported by Bleeping Computer, Crypto-Loot appears to be just like Coin-Hive. It promises that running the miner on the website will go “unnoticed by users if the threads are set between 2-4.”

The web miner runs in the background to mine Monero digital coins. The reason that has been given for Monero’s selection is its focus on privacy and fitness for web-based mining.

The creators of Crypto-Loot were inspired to come up with this service as Coin-Hove charges 30% commission of the mined currency. Compared to that, the new service just keeps 12%. The website claims it to be the cheapest rate available.

How to block browser-based cryptocurrency mining on your PC?

It’s evident that Crypto-Loot is targetting the website owners who wish to keep their users in the dark. In such cases, you can go ahead and try some cryptocurrency mining blocking methods.

These methods include using some Chrome extensions like No Coin, which has recently added support for Crypto-Loot blocking, and blocking coin mining domains in the OS hosts file. You can also use some quality antivirus solutions as they are known to show alerts.

What are your thoughts on this ongoing crypto mining debate? Don’t forget to share your views with us.

Also Read: 10 Interesting Facts About Bitcoin That You Must Know
Adarsh Verma

Adarsh Verma

Fossbytes co-founder and an aspiring entrepreneur who keeps a close eye on open source, tech giants, and security. Get in touch with him by sending an email — [email protected]
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