Categories: CryptoNews

ZCash Becomes The New Cybercrime Currency As Criminals Deploy Malicious Mining Software

Every since the ZCash altcoin has been launched, people have been relatively quiet about its value or the mining proceedings. With a block reward ramping up, instead of going down over time, the early miners are not in the best position to generate a nice revenue stream. Unfortunately, Zcash is subject to malicious mining software. Providing anonymity is a good trait, but it can also attract the wrong crowd.

Cybercriminals Target ZCash Mining Instead of Bitcoin

Anyone who has been keeping an eye on the cryptocurrency sector will know that malicious mining software

is nothing new. Various mining tools have been repackaged into other forms of malware, utilizing computational power of an infected device to mine altcoins or even Bitcoin. At one time, such software was included in a major Torrent software, causing a fair amount of backlash.

Fast forward to today, and it appears that criminals are still using this tactic. However, they are no longer showing keen interest in Bitcoin, as it has become virtually unmineable with computers, but are shifting their focus to ZCash. This rather new cryptocurrency is attracting some attention, even though its value has plummeted significantly ever since its release.

Once thing that sets ZCash apart from the rest is how the project offers its users full anonymity–not just by masking their identity, but also by hiding the transaction’s recipient and even the value of the transaction itself. Plus, ZCash mining remains far more profitable than any other type of malicious mining software.



Related Post

It is safe to say that ZCash has now become the favorite currency of criminals, rather than Bitcoin or even Monero. Over 1,000 unique users have been identified running the ZCash mining software on their computer, even though it has been branded under many different names. It is safe to say that these users are oblivious to the fact that their computer resources are being used for nefarious purposes.

Nheqminer is the software in question, and it is mostly being installed through downloaded pirated copies of legitimate software. However, the distribution of the malicious ZCash mining software could change over time, as it has become obvious that criminals will step up their game on occasion. More targeted campaigns are imminent, although it remains unclear how this will occur exactly.

Any currency that offers anonymity will be of great interest to cyber criminals. Many people assumed that Bitcoin was that go-to currency, but it lacks both anonymity and privacy. ZCash offers criminals exactly what they are looking for, and they will continue to favor this cryptocurrency over any other. Whether or not this is good for ZCash, remains to be seen.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

4 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

4 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

4 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

5 hours ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

5 hours ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

7 hours ago