Coinhive is one of the most tainted names when it comes to the world of cryptocurrencies. The Coinhive script basically allows website owners to harness the processing power of their visitors to mine for Monero (XMR). A large majority of these websites do not notify the users that they are using their processing power to mine for cryptocurrencies, which is unethical.
2017 was the year that cryptocurrencies became mainstream. However, as cryptocurrencies became mainstream, a large number of unsuspecting and novice users joined in. With the rise in popularity of cryptocurrencies, there was also a sharp rise in the number of cryptocurrency related crimes. While using Coinhive isn’t a crime, but it is highly unethical to do so without informing the visitors.
Unsuspecting users visiting these pages may face unexpected CPU usage spikes, and browsers may hang. pic.twitter.com/BzbodPYcyK
Coinhive was originally created with the intention of it being used as a source of revenue for websites, but in their terms and conditions, they have specifically asked the webmasters to mention it on the website that a script in the background is mining cryptocurrencies using the visitors’ processing power. This isn’t even the first time (and certainly not the last time) that this controversial script has been in controversy.
Ever since the Banbreach report came out, the script has been pulled down.
It is shocking that newspapers as reputed as the Deccan Chronicle and the Asian Age are involved in cryptojacking practices. There’s a possibility that it might not be an official decision from the newspaper but a rogue employee who may have been behind it. However, it’s always good to stay alert about such threats that are rising with the rise of cryptocurrencies.