Browser-Based Cryptocurrency Mining Resurfaces, Haunting Websites

Browser-based cryptocurrency mining is making a comeback, with a significant increase in activity in the last few months of 2017. Symantec reported a 34% rise in the number of mobile apps incorporating cryptocurrency mining code, attributing this resurgence to the launch of a mining service by Coinhive in September.

The Rise of Browser-Based Cryptocurrency Mining

Browser-based cryptocurrency mining has been around since at least 2011 and involves embedding scripts into web pages to allow visitors to mine for cryptocurrency while on the site. Coinhive, the leading service provider in this space, offers website owners an alternative to traditional ad revenue by allowing users to pay for content indirectly through mining. This pooled mining approach can harness the combined power of a large number of users with average hardware, making it potentially lucrative for website owners.

In the past, browser-based mining was deemed unprofitable due to the low value of cryptocurrencies like Bitcoin and the increasing dominance of ASIC miners. However, the surge in cryptocurrency market capitalization in 2017, which now stands at $166 billion across various currencies, has revitalized interest in browser-based mining.

The Dark Side of Browser-Based Mining

While Coinhive offers a legitimate way for websites to monetize their content, the service has been abused by malicious actors. Instances of unauthorized mining scripts on websites like Pirate Bay and premium sites like Showtime have raised concerns about user privacy and transparency. Websites using Coinhive without user consent or providing an opt-out option are facing backlash from users.

According to Symantec, the covert nature of browser-based mining poses a risk to user experience, with excessive CPU usage being a tell-tale sign of unauthorized mining activity. Reports of websites using mining scripts without disclosure highlight the need for greater transparency and user control in this space.

Conclusion

Browser-based cryptocurrency mining has reemerged as a controversial topic in the digital landscape. While it offers website owners a new revenue stream, the lack of transparency and potential for abuse have raised red flags among users and security experts. As the debate continues, it is essential for website owners to prioritize user consent and ethical mining practices to maintain trust and credibility in the online ecosystem.