In the cryptocurrency industry, a platform is as good as the community behind it. If there is no strong and active community promoting the interest of a platform, it will eventually fade away. Not every cryptocurrency has a strong community but Monero is one of those cryptocurrencies with a strong community behind it. Monero is a privacy-centric cryptocurrency and as such it has become a popular tool for scammers and hackers. Many people are worried that Monero is being used for illicit activities. What is supposed be a good thing is now being exploited by hackers.
Malware Response Workgroup
In a bid to clear the bad air, the Monero community is making plans to launch a new initiative that will combat cryptocurrency scams and other illegal activities on the network. On the official site, Justin Ehrenhofer announced the initiative. He said that the Monero mining algorithm is accessible and while this is a good thing, it makes it vulnerable to bad actors. In Ehrenhofer’s words:
“It’s true that many people people see these features as a good thing but attackers mine XMR without the computer user’s consent. They activate miners on web pages without the consent of the user. They infect machines or run mining algorithms secretly through other software packages. They also perform ransomware attacks and demand Monero as payment.
Monero (XMR) Price Today – XMR / USD
The community came up with the Malware Response Workgroup on an educational site that offers readers action plans and diagnoses against unwanted mining and other attacks.
Monero Price Analysis
Monero spent almost the whole of September trending sideways against the USD. This month, it started attempting a bullish reversal but the sideways pattern continued. Over the last seven days, the price has fallen by 1 5%. This morning, it was changing hands at $113.76 after it fell by 6% within 30 days. Ranked as the 10th largest cryptocurrency in the world per market capitalization, Monero is currently trading at $113.69. This shows a 0.16% rise against the USD but a 1.11 fall against Bitcoin. The trading volume within the last 24 hours is $26,856,785 and the market capitalization is $1,871,412,799.