Monero Price Slides As A Crypto Mining Site Hijacks Millions Of Android Phones

The price of XMR/USD is dropping as news about Cryptojacking on Android phones hit the market. The cryptocurrency is trading at $230 on Tuesday after closing trading on Monday at $248. Monero has been in a bearish trend since the opening of the trading session On Monday Morning.

Cryptocurrency hijacking was unheard of on the android phones. The new development, however, put Android phones users in the same vulnerable group as PC computing devices. Malwarebytes using a detailed “drive-by” mining advertisement, redirected millions of traffic (Android users) to sites that used their phones to mine Monero. Researchers say that infected apps were driving people to the website. The site went further to show the users that they are running “suspect” activities and the only way to stop the mining was to enter a captcha code.

It is not clear the exact number of people that were affected by the malware. Although, two of the sites affected were recording stats of over 30 million visitors a month. A total of 800,000 visitors per day for all the sites affected. The average time spent per person on the sites was found to have been four minutes which is a lot of mining time.

XRM/USD price is struggling to gain momentum as trading enters the afternoon session on Tuesday. The immediate support is at $228. On the upside, the resistance is at $250. The bears are in control of the market. The bulls are holding ground at the support level, and the price could embark on an upward trend if buyers continue to buy the XRM despite the news on cryptojacking.

XRM/USD price daily chart

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Source : https://www.fxstreet.com/news/monero-price-slides-as-a-crypto-mining-site-hijack-millions-of-android-phones-201802131206

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