Coinhive has shut its doors for good: Gathering your stocks by April 30th.

Fare thee well to the misused ideas of others. Coinhive, a crypto-mining operation being used in the place of embedded javascript ads on websites is closing its doors for good. Coinhive was a nifty idea, but sadly, it was abused and was really easy to abuse. After a while on the net, the service was used by malware developers and ad writers to harness users’ hardware in an attempt to mine for bitcoin. Bitcoin is a lucrative piece of virtual currency that costs bundles more than the name appears to be worth. With one coin equating to a whopping $3,854.92 (roughly?), it is little wonder why someone would attempt to cash in on this platform. Many honest or at least semi-honest people mine for currency on the web with no ill intentions, however, this misuse of the ads platform is just another reason that people use ad-blockers. Malwarebytes, a trusted malware researching team, already blocked this type of advertising, (or should we say malvertising?), in their programs and hosts files. Along with the misuse and mistrust, Coinhive also mentioned other reasons as to why they were shutting down last month. According to the company, it was also a crash in the biz. A recent fall or dip in the stock prices of the currency caused hardships for them. While this month, March, will be the end of the road for the service, the users of the service have until the end of April to gather all their stocks and withdraw. That said, many security researchers seem rather overjoyed at the shutdown as it at least appears to slow the hackers who relied on it down quite a bit. While this story isn’t breaking news, the service only shutdown officially on March the 8th. Among some of its users, apparently the Pirate Bay had stock in the service as well.

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